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QuantumScape Corporation (QS) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2-min read

QuantumScape Corporation (QS) closed at $7.29 in the latest trading session, marking a -0.55% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.

Coming into today, shares of the company had lost 6.27% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.28%, while the S&P 500 gained 1.24%.

Investors will be hoping for strength from QuantumScape Corporation as it approaches its next earnings release, which is expected to be April 26, 2023. 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 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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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QuantumScape Corporation is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 203, which puts 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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QuantumScape Corporation (QS) : Free Stock Analysis Report

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Zacks Investment Research