Benzinga | Oct 29, 2021 02:40PM EDT

Why QuantumScape Shares Are Rising

Quantumscape Corp (NYSE:QS) shares are trading higher. The stock has been volatile this week following third-quarter earnings and the release of third-party test results on the performance of the company's solid-state lithium-metal battery cells.

QuantumScape Thursday reported quarterly losses of 13 cents per share which missed the analyst consensus estimate of a loss of 10 cents per share.

"We are happy that these independent test results substantially replicate the cycling performance we reported at our December 2020 Battery Showcase," said Jagdeep Singh, CEO and co-founder of QuantumScape. "With the publication of this report, we will continue to focus on our product roadmap goals and delivering cells to our customers."

QuantumScape says their cells reflect a complete cycle-life test that demonstrates how well the cell chemistry performs under extended high-performance usage and various commercially relevant conditions for EVs.

QuantumScape is engaged in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles.

QuantumScape has a 52-week high of $132.73 and a 52-week low of $11.25.