We recently published Ten companies that dominate the market; 5 at all-time highs. QuantumScape Corp. (NYSE:QS) is one of the best performing stocks on Friday.
QuantumScape rallied 16.78 percent on Friday to close at $18.44 apiece, as investors moved away from an investment firm’s bullish outlook for its shares.
In its recent coverage, TD Cowen raised its price target for QuantumScape Corp. (NYSE:QS) to $16 from $5 previously, while maintaining a “hold” rating.
The revision followed QuantumScape Corp.’s (NYSE:QS) impressive earnings performance in the third quarter of the year, after it narrowed its net loss by 11.5 percent to $105.8 million from $119.6 million in the same period last year.
Photo by Mika Baumeister on Unsplash
Operating losses decreased 11.6 percent to $114.99 million from $130.16 million year over year.
During the same period, the company successfully shipped its most advanced QS cells to date, the Cobra-based QSE-5 B1, following the product’s launch via the Volkswagen Group’s Ducati V21L motorcycle.
In line with its expansion program, QuantumScape Corp. (NYSE:QS) is underway with the installation of a highly automated cell production pilot line, Eagle Line, at its headquarters in San Jose, California.
“We are working together with our partners to bring our innovative solid-state lithium metal battery technology to market as quickly as possible. This announcement is another critical step in achieving our goal of revolutionizing energy storage,” said QuantumScape Corp. (NYSE:QS) Chief Operating Officer Luca Fasoli.
While we recognize the potential of QS as an investment, our conviction lies in the belief that some AI stocks have more promise to generate higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also one of the biggest beneficiaries of Trump’s tariffs and offshoring, check out our free report on the best short-term AI stock.
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Disclosure: None. This article was originally published in Internal jumpsuit.