Quantumscape Corp Down 6.52% To $7.16 After Earnings Beat

Quantumscape Corp (QS) said after close Wednesday that it lost $0.23 per share in quarter four 2023. The company reported $0.00 in revenue

In the same quarter a year ago, the company lost $0.25 per share on revenue of $0.00.

The stock is down 6.52% to $7.16 after the report.

The firm’s higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Quantumscape Corp a Bullish Sentiment Rank from InvestorsObserver.

Quantumscape Corp has performed a little above average during the past few months. Before the report, Quantumscape Corp received a Long-Term Technical Rank by InvestorsObserver of 51, putting it in the top half of stocks. The firm set a 52-week low on November 1, 2023 at $4.99 and set a 52-week high on July 31, 2023 at $13.86.

QuantumScape Corp is engaged in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles. It developed anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing.