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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 $6.54, marking a +0.77% move from the previous day. This move lagged the S&P 500's daily gain of 0.99%.

Prior to today's trading, shares of the company had gained 4.68% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 8.63% and outpaced the S&P 500's gain of 0.42% in that time.

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 -$0.22 per share, which would represent no growth 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.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 93, putting it in the top 37% 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

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Zacks Investment Research