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QuantumScape Corporation (QS) Gains As Market Dips: What You Should Know
In the latest trading session, QuantumScape Corporation (QS - Free Report) closed at $7.35, marking a +0.41% move from the previous day. This change outpaced the S&P 500's 1.45% loss on the day. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 3.06%.
Coming into today, shares of the company had lost 14.79% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.62%, while the S&P 500 lost 3.83%.
Wall Street will be looking for positivity from QuantumScape Corporation as it approaches its next earnings report date. The company is expected to report EPS of -$0.23, down 9.52% from the prior-year quarter.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.98% higher. 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 184, which puts it in the bottom 27% 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.