Yahoo Finance QuantumScape Corporation (QS) Gains As Market Dips: What You Should Know
In the latest trading session, QuantumScape Corporation (QS) closed at $7.33, marking a +0.55% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.
Coming into today, shares of the company had gained 17.01% in the past month. In that same time, the Auto-Tires-Trucks sector gained 14.75%, while the S&P 500 gained 3.78%.
Wall Street will be looking for positivity from QuantumScape Corporation as it approaches its next earnings report date. On that day, QuantumScape Corporation is projected to report earnings of -$0.22 per share, which would represent no growth from the year-ago period.
Investors should also note any recent changes to analyst estimates for QuantumScape Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QuantumScape Corporation is currently sporting 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 95, putting it in the top 38% 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.
To follow QS in the coming trading sessions, be sure to utilize Zacks.com.
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QuantumScape Corporation (QS) : Free Stock Analysis Report
