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QuantumScape Corporation (QS) closed the most recent trading day at $5.60, moving -0.71% from the previous trading session. This change lagged the S&P 500’s 0.59% gain on the day. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the company had lost 20.45% in the past month. In that same time, the Auto-Tires-Trucks sector lost 14.87%, while the S&P 500 lost 4.33%.
Wall Street will be looking for positivity from QuantumScape Corporation as it approaches its next earnings report date. On that day, QuantumScape Corporation is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 62.5%.
Investors might also notice recent changes to analyst estimates for QuantumScape Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 147, putting it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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