QuantumScape Corp (NASDAQ:QS) shares were last seen down 8.9% to trade at $8.03, after the lithium battery developer reported a fourth-quarter loss of 17 cents per share, one cent below estimates. The company also forecast a full-year EBIDTA loss of $250 million to $275 million, and projected capital expenditures between $40-$60 million. In response, Deutsche Bank cut its price target to $9 from $10.
Analysts are already wholeheartedly bearish on QS, with all 10 in coverage carrying a "hold" or worse rating. Meanwhile, short interest accounts for 13.7% of the stock's available float, or nearly three days' worth of pent-up buying power.
Today's pullback has QS testing recent support at the $8 level as it heads for its third-straight loss. Year to date, the equity is down 22.9%.
Call traders are piling on QS stock, with 31,000 calls across the tape -- double the average intraday amount -- compared to 9,722 puts. The most popular contract by far is the weekly 2/13 8.50-strike call, with new positions being opened there.
Join thousands of traders who make more informed decisions with our premium features.
Real-time quotes, advanced visualizations, backtesting, and much more.