QuantumScape Corporation (NYSE:QS - Get Free Report) saw unusually large options trading on Wednesday. Traders purchased 36,275 call options on the stock. This is an increase of 53% compared to the average volume of 23,705 call options.
Insider Buying and Selling
In other QuantumScape news, insider Mohit Singh sold 71,428 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $4.41, for a total value of $314,997.48. Following the completion of the sale, the insider now directly owns 1,640,998 shares in the company, valued at $7,236,801.18. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Fritz Prinz sold 61,523 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the completion of the sale, the director now owns 231,530 shares of the company's stock, valued at $912,228.20. This trade represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is owned by insiders.
Hedge Funds Weigh In On QuantumScape
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after buying an additional 5,841 shares during the period. Heck Capital Advisors LLC bought a new position in shares of QuantumScape during the 4th quarter valued at $26,000. Federated Hermes Inc. lifted its holdings in shares of QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after buying an additional 5,438 shares during the period. Hollencrest Capital Management lifted its holdings in shares of QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after buying an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of QuantumScape during the 4th quarter valued at $29,000. 29.87% of the stock is owned by institutional investors.
QuantumScape Stock Down 1.7%
QS stock traded down $0.08 during midday trading on Friday, hitting $4.31. The company's stock had a trading volume of 10,824,495 shares, compared to its average volume of 11,730,323. The company has a market cap of $2.41 billion, a PE ratio of -4.73 and a beta of 4.27. QuantumScape has a 12 month low of $3.40 and a 12 month high of $9.52. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The firm's 50-day moving average is $4.08 and its 200-day moving average is $4.61.
QuantumScape (NYSE:QS - Get Free Report) last released 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. On average, equities research analysts forecast that QuantumScape will post -0.82 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have commented on the stock. Robert W. Baird lowered their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Evercore ISI reissued a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group dropped their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.19.
Check Out Our Latest Research Report on QuantumScape
QuantumScape Company Profile
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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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