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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 $11.21 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500's 0.69% gain on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.2%.

Coming into today, shares of the company had lost 0.44% in the past month. In that same time, the Auto-Tires-Trucks sector lost 5.89%, while the S&P 500 lost 9.94%.

QuantumScape Corporation will be looking to display strength as it nears its next earnings release. On that day, QuantumScape Corporation is projected to report earnings of -$0.25 per share, which would represent year-over-year growth of 13.79%.

Investors might also notice recent changes to analyst estimates for QuantumScape Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 currently has 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 174, putting it in the bottom 31% 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