Traders Purchase High Volume of QuantumScape Call Options (NYSE:QS)

QuantumScape Co. (NYSE:QS) was the target of unusually large options trading on Thursday. Stock investors purchased 119,013 call options on the company. This is an increase of 356% compared to the typical volume of 26,091 call options.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 58,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock valued at $6,659,475 in the last three months. 12.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. Vanguard Group Inc. grew its stake in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after purchasing an additional 3,004,964 shares during the period. Baillie Gifford & Co. grew its position in QuantumScape by 10.3% during the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares in the last quarter. Janus Henderson Group PLC increased its stake in QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after buying an additional 25,347 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in QuantumScape by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after buying an additional 11,897 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday. Finally, Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Trading Down 4.7 %

NYSE:QS opened at $6.20 on Friday. The stock has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $5.81. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -6.52 and a beta of 4.58. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the business posted ($0.23) EPS. Sell-side analysts forecast that QuantumScape will post -0.9 earnings per share for the current year.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.