QuantumScape Corporation (QS) Flat As Market Sinks: What You Should Know
QuantumScape Corporation (QS) closed the most recent trading day at $9.71, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the company had gained 5.43% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 4.85% and the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from QuantumScape Corporation as it approaches its next earnings report date. This is expected to be July 27, 2022. On that day, QuantumScape Corporation is projected to report earnings of -$0.19 per share, which would represent year-over-year growth of 56.82%.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. 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 industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% 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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