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QuantumScape Corporation (QS) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 min read

QuantumScape Corporation (QS) closed at $7.48 in the latest trading session, marking a +1.22% move from the prior day. This move outpaced the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.

Coming into today, shares of the company had lost 24.67% in the past month. In that same time, the Auto-Tires-Trucks sector lost 8.69%, while the S&P 500 lost 3.02%.

Wall Street will be looking for positivity from QuantumScape Corporation as it approaches its next earnings report date. In that report, analysts expect QuantumScape Corporation to post earnings of -$0.23 per share. This would mark a year-over-year decline of 9.52%.

Investors might also notice recent changes to analyst estimates for QuantumScape Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.69% higher. QuantumScape Corporation currently has a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow QS in the coming trading sessions, be sure to utilize Zacks.com.

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To read this article on Zacks.com click here.

Zacks Investment Research