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

Zacks Equity Research
·2-min read

QuantumScape Corporation (QS) closed at $8.76 in the latest trading session, marking a -0.9% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.5%.

Coming into today, shares of the company had lost 22.93% in the past month. In that same time, the Auto-Tires-Trucks sector lost 10.25%, while the S&P 500 lost 6.69%.

Investors will be hoping for strength from QuantumScape Corporation as it approaches its next earnings release. On that day, QuantumScape Corporation is projected to report earnings of -$0.19 per share, which would represent year-over-year growth of 56.82%.

It is also important to note the 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. QuantumScape Corporation currently has a Zacks Rank of #4 (Sell).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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