Investing

Unusual Put Option Trade in Quantumscape Worth $1,591.55K

On March 6, 2023 at 12:47:13 ET an unusually large $1,591.55K block of Put contracts in Quantumscape (QS) was sold, with a strike price of $10.00 / share, expiring in 11 days (on March 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.94 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in QS options.

This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.

Analyst Price Forecast Suggests 35.51% Upside

As of March 6, 2023, the average one-year price target for Quantumscape is $12.47. The forecasts range from a low of $3.03 to a high of $26.25. The average price target represents an increase of 35.51% from its latest reported closing price of $9.20.

The projected annual revenue for Quantumscape is $0MM. The projected annual non-GAAP EPS is -$0.87.

What is the Fund Sentiment?

There are 506 funds or institutions reporting positions in Quantumscape. This is an increase of 32 owner(s) or 6.75% in the last quarter. Average portfolio weight of all funds dedicated to QS is 0.16%, a decrease of 11.25%. Total shares owned by institutions increased in the last three months by 9.73% to 130,174K shares. The put/call ratio of QS is 0.80, indicating a bullish outlook.

What are large shareholders doing?

Capricorn Investment Group holds 14,795K shares representing 3.36% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,005K shares representing 1.59% ownership of the company. In it’s prior filing, the firm reported owning 6,751K shares, representing an increase of 3.63%. The firm decreased its portfolio allocation in QS by 35.39% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 5,970K shares representing 1.36% ownership of the company. In it’s prior filing, the firm reported owning 5,772K shares, representing an increase of 3.31%. The firm decreased its portfolio allocation in QS by 35.45% over the last quarter.

BNP Paribas Asset Management Holding holds 5,415K shares representing 1.23% ownership of the company. In it’s prior filing, the firm reported owning 3,702K shares, representing an increase of 31.63%. The firm decreased its portfolio allocation in QS by 99.91% over the last quarter.

KPCB XIV Associates holds 5,071K shares representing 1.15% ownership of the company. No change in the last quarter.

QuantumScape Background Information
(This description is provided by the company.)

Kensington Capital Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a business combination in the automotive sector. Kensington is sponsored by Kensington Capital Partners LLC and the management team of Justin Mirro, Bob Remenar, Simon Boag and Daniel Huber. Kensington is also supported by a board of independent directors including Tom LaSorda, Anders Pettersson, Mitch Quain, Don Runkle and Matt Simoncini. The Kensington team has completed over 70 automotive transactions and has over 300 years of combined experience leading some of the largest automotive companies in the world.

This article originally appeared on Fintel

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