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QuantumScape Corporation (QS) Stock Moves -0.77%: What You Should Know

Zacks Equity Research
·2-min read

QuantumScape Corporation (QS) closed at $9.05 in the latest trading session, marking a -0.77% move from the prior day. This change was narrower than the S&P 500's 1.72% loss on the day. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.09%.

Heading into today, shares of the company had lost 21.38% over the past month, lagging the Auto-Tires-Trucks sector's loss of 5.01% and the S&P 500's loss of 9.09% in that time.

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 -$0.25 per share. This would mark year-over-year growth of 13.79%.

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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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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. Within the past 30 days, our consensus EPS projection 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 167, putting it in the bottom 34% 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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Zacks Investment Research