QuantumScape Corporation (QS) closed at $10.14 in the latest trading session, marking a -0.2% move from the prior day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Prior to today's trading, shares of the company had gained 35.65% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 24.22% and the S&P 500's gain of 3.18% 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 26, 2023. On that day, QuantumScape Corporation is projected to report earnings of -$0.22 per share, which would represent no growth from the year-ago period.
Investors might also notice recent changes to analyst estimates for QuantumScape Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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 87, 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.
To follow QS in the coming trading sessions, be sure to utilize Zacks.com.
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