QuantumScape Corporation (QS) Stock Sinks As Market Gains: What You Should Know
The latest trading session saw QuantumScape Corporation (QS) ending at $6.61, denoting a -0.6% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.88%. Elsewhere, the Dow gained 0.54%, while the tech-heavy Nasdaq added 1.35%.
Shares of the company witnessed a loss of 5.54% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 6.42% and underperforming the S&P 500's gain of 0.64%.
The investment community will be closely monitoring the performance of QuantumScape Corporation in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.23, showcasing an 8% upward movement from the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for QuantumScape Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QuantumScape Corporation is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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QuantumScape Corporation (QS) : Free Stock Analysis Report
