QuantumScape Corporation QS shares are trading higher on Thursday. QuantumScape reported its second quarter financial results after the close of markets on Wednesday.
What To Know:
QuantumScape reported quarterly losses of 26 cents per share, compared to the analyst consensus estimate of a loss of 20 cents.
The company ended the second quarter with over $900 million in liquidity and stated that QuantumScape will continue the wise management of its balance sheet and look for opportunities to optimize spending.
In the "Product Roadmap" section from a letter to shareholders, QuantumScape stated, "As announced last quarter, our first commercial product is planned to be a ~5 Ah cell, which we believe will offer a combination of energy density and power unmatched by the leading EV batteries available today. We are designating this first product QSE-5.2 We are already working closely with a prospective launch customer in the automotive sector for this cell, with the goal of bringing our next-generation technology to the electric vehicle market as rapidly as possible."
QS shares are moving higher on heavy trading volume. According to data from Benzinga Pro, more than 29 million shares have already been traded in the session, compared to the stock's 100-day average of 5.78 million shares.
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QS Price Action: According to Benzinga Pro, QS shares are trading 23.8% higher at $11.60 at the time of publication.
Image: paulbr75 from Pixabay
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