QuantumScape Corp. (NASDAQ:QS) shares are trading higher premarket on Thursday.

Earnings Snapshot

The company reported quarterly losses of 16 cents per share, which beat the consensus estimate for a loss of 18 cents, according to Benzinga Pro data. 

Adjusted EBITDA loss came in at $63.2 million in the first quarter, in line with expectations.

The company reiterated its full-year adjusted EBITDA loss guidance of $250 million-$275 million and capital expenditures of $40 million-$60 million.

Conference Call Key Takeaways

QuantumScape disclosed that it finished installing its Eagle Line facility and has started operations aimed at producing QSC5 cells. The production is expected to ramp up in the second quarter to support ongoing customer programs.

The company is maintaining close partnerships with key automotive manufacturers, including Volkswagen and several other major global OEMs, as it advances through joint development efforts and on-road testing phases.

The company also generated its first customer billings from ecosystem partners, marking an early milestone that underscores growing commercial interest in its capital-efficient approach.

In addition to automotive use cases, QuantumScape is evaluating potential applications in areas such as AI data centers and defense, supported by the performance benefits of its solid-state battery technology, including higher energy density and improved safety.

The company noted that AI data centers are transitioning to 800-volt DC architectures, where its battery technology could improve energy density, safety, and power delivery efficiency.

Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price target of $10.70. Recent analyst moves include:

  • Evercore ISI Group: In-Line (Lowers Target to $10.00) (Feb. 23)
  • HSBC: Upgraded to Hold (Lowers Target to $8.30) (Feb. 19)
  • Morgan Stanley: Equal-Weight (Lowers Target to $8.50) (Feb. 18)

QuantumScape Short Interest Report

Short interest in QuantumScape rose in the latest reporting period, increasing from 84.02 million shares to 88.98 million shares. The figure represents about 18.2% of the company's public float.

Based on an average daily trading volume of 9.20 million shares, it would take approximately 9.67 days for short sellers to cover their positions, assuming no significant impact on the stock price.

QS Price Action: QuantumScape shares were up 22.30% at $8.94 during premarket trading on Thursday, according to Benzinga Pro data.

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