QuantumScape Sees Unusually High Options Volume (NYSE:QS)

QuantumScape Corporation (NYSE:QSGet Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 76,599 call options on the company. This is an increase of 83% compared to the typical daily volume of 41,760 call options.

QuantumScape Stock Up 6.1%

Shares of NYSE:QS traded up $0.50 during trading on Tuesday, hitting $8.70. The company’s stock had a trading volume of 20,150,482 shares, compared to its average volume of 17,245,813. The business has a 50 day moving average price of $7.10 and a two-hundred day moving average price of $9.27. The company has a market capitalization of $5.35 billion, a PE ratio of -10.74 and a beta of 2.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. QuantumScape has a fifty-two week low of $3.88 and a fifty-two week high of $19.07.

QuantumScape (NYSE:QSGet Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same quarter in the previous year, the firm earned ($0.21) EPS. As a group, research analysts expect that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, CTO Timothy Holme sold 150,183 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $7.50, for a total value of $1,126,372.50. Following the transaction, the chief technology officer directly owned 1,712,506 shares of the company’s stock, valued at $12,843,795. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael O. Mccarthy III sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $6.73, for a total transaction of $302,850.00. Following the completion of the transaction, the insider directly owned 954,219 shares in the company, valued at $6,421,893.87. This trade represents a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 824,328 shares of company stock valued at $5,884,730. 5.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in QuantumScape in the third quarter valued at $33,962,000. Vanguard Group Inc. increased its stake in QuantumScape by 1.2% in the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock valued at $451,346,000 after purchasing an additional 422,378 shares during the period. Exchange Traded Concepts LLC acquired a new position in QuantumScape in the fourth quarter valued at $4,475,000. State of New Jersey Common Pension Fund D acquired a new position in QuantumScape in the third quarter valued at $3,330,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in QuantumScape in the third quarter valued at $2,222,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on QS. Morgan Stanley lowered their price objective on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on QuantumScape in a research report on Thursday, February 12th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and lowered their price objective for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.13.

Check Out Our Latest Stock Report on QS

About QuantumScape

(Get Free Report)

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.

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