Stock Traders Purchase Large Volume of Call Options on QuantumScape (NYSE:QS)

QuantumScape Corporation (NYSE:QS) was the target of some unusual options trading on Thursday. Investors bought 68,295 call options on the stock. This represents an increase of 100% compared to the average volume of 34,111 call options.

QuantumScape Stock Up 2.7%

NYSE QS opened at $6.99 on Friday. The company has a market capitalization of $3.90 billion, a P/E ratio of -7.68 and a beta of 4.42. QuantumScape has a one year low of $3.40 and a one year high of $9.52. The stock has a 50 day moving average price of $4.50 and a 200-day moving average price of $4.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the company earned ($0.24) earnings per share. As a group, equities analysts predict that QuantumScape will post -0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on QS shares. Robert W. Baird reduced their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research note on Monday, April 28th. Finally, UBS Group lowered QuantumScape from a “neutral” rating to a “sell” rating and dropped their price target for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.19.

Insider Activity

In other news, insider Mohit Singh sold 325,000 shares of the business’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.21, for a total value of $2,343,250.00. Following the transaction, the insider directly owned 1,641,711 shares in the company, valued at $11,836,736.31. The trade was a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 61,523 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the transaction, the director owned 231,530 shares in the company, valued at $912,228.20. The trade was a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 747,951 shares of company stock worth $4,629,048 over the last 90 days. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of QuantumScape in the fourth quarter worth approximately $1,527,000. Charles Schwab Investment Management Inc. raised its holdings in shares of QuantumScape by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock worth $12,103,000 after buying an additional 104,894 shares during the period. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock worth $168,367,000 after buying an additional 956,072 shares during the period. American Century Companies Inc. raised its holdings in shares of QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock worth $2,244,000 after buying an additional 396,160 shares during the period. Finally, Oak Harbor Wealth Partners LLC raised its holdings in shares of QuantumScape by 274.6% in the fourth quarter. Oak Harbor Wealth Partners LLC now owns 135,189 shares of the company’s stock worth $702,000 after buying an additional 99,100 shares during the period. 29.87% of the stock is owned by institutional investors.

About QuantumScape

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.