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QuantumScape Corporation (QS) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
Updated ·2 min read

QuantumScape Corporation (QS) closed the most recent trading day at $7.59, moving -1.81% from the previous trading session. This change lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.

Prior to today's trading, shares of the company had gained 9.65% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 14.83% and outpaced the S&P 500's gain of 6.51% in that time.

QuantumScape Corporation will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. The company is expected to report EPS of -$0.23, down 9.52% from the prior-year quarter.

Any recent changes to analyst estimates for QuantumScape Corporation should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QuantumScape Corporation is currently a Zacks Rank #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Zacks Investment Research