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QuantumScape Corporation (QS) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, QuantumScape Corporation (QS) closed at $7.58, marking a +0.53% move from the previous day. This move lagged the S&P 500's daily gain of 0.56%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 1.35%.

Coming into today, shares of the company had lost 21.87% in the past month. In that same time, the Auto-Tires-Trucks sector lost 5.84%, while the S&P 500 lost 1.48%.

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

It is also important to note the recent changes to analyst estimates for QuantumScape Corporation. These recent revisions tend to reflect the evolving nature of short-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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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate 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 group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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.

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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QuantumScape Corporation (QS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research