QuantumScape Target of Unusually Large Options Trading (NYSE:QS)

Key Points

• QuantumScape saw a significant increase in options trading, with 150,543 call options acquired, marking a 32% rise from average daily volumes.
• The company's stock price increased to $14.28, with a 12-month trading range between $3.40 and $15.03, and a market capitalization of $8.08 billion.
• Recent analyst ratings include a target price raise to $11.00 from Robert W. Baird, while the consensus rating remains "Reduce" with an average target price of $5.88.

QuantumScape Corporation (NYSE:QS - Get Free Report) saw some unusual options trading on Wednesday. Stock traders acquired 150,543 call options on the stock. This is an increase of approximately 32% compared to the typical daily volume of 114,127 call options.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QS. Robert W. Baird raised their target price on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, QuantumScape currently has a consensus rating of "Reduce" and an average target price of $5.88.

QuantumScape Stock Performance

Shares of NYSE QS traded up $1.96 during midday trading on Wednesday, reaching $14.28. The company's stock had a trading volume of 70,473,608 shares, compared to its average volume of 26,115,012. QuantumScape has a 12-month low of $3.40 and a 12-month high of $15.03. The firm has a 50 day moving average price of $9.67 and a 200-day moving average price of $6.74. The stock has a market capitalization of $8.08 billion, a P/E ratio of -16.58 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the previous year, the firm earned ($0.25) EPS. As a group, equities analysts predict that QuantumScape will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, CTO Timothy Holme sold 23,244 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $9.63, for a total transaction of $223,839.72. Following the completion of the transaction, the chief technology officer directly owned 1,422,060 shares of the company's stock, valued at $13,694,437.80. This trade represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 38,035 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $9.13, for a total value of $347,259.55. Following the transaction, the insider directly owned 1,397,382 shares of the company's stock, valued at approximately $12,758,097.66. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,791,051 shares of company stock worth $34,696,538 over the last 90 days. 5.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after buying an additional 3,904,168 shares during the last quarter. Vanguard Group Inc. lifted its stake in QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in QuantumScape by 2,036.7% in the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock valued at $16,483,000 after purchasing an additional 2,338,038 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in QuantumScape by 1,005.2% in the second quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company's stock valued at $13,323,000 after purchasing an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in QuantumScape by 148.0% in the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company's stock valued at $18,843,000 after purchasing an additional 1,673,472 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

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.

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