QuantumScape Corp (NASDAQ:QS) stock is down 1.9% to trade at $7.05 at last check, a far cry from its Oct. 15, four-year high of $19.07. The equity has been enjoying support at the $6 level since late March, while the 60-day moving average has been pressuring shares lower since November. So far this year, the stock has shed more than 32%.
The equity could move sharply Thursday, as the quantum computing company is set to report first-quarter earnings results after the close tomorrow, April 22. In the last two years, QS has settled lower after five of its last eight reports, including a 12% tumble in February. The options market is pricing in 17.2% move this time, regardless of direction, which is much larger than the 8.7% move its averaged in the last two years.
The brokerage bunch leans overwhelmingly bearish toward QuantumScape stock. Of the 10 analysts in coverage, seven say "hold," while the remaining three sport "sell" ratings.
The options pits lean much more optimistic, however. This is per the equity's 10-day call/put volume ratio of 8.30 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 71% of annual readings.
