Why QuantumScape Corporation (QS) Outpaced the Stock Market Today
The most recent trading session ended with QuantumScape Corporation (QS) standing at $8.83, reflecting a +1.49% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.
Prior to today's trading, shares of the company had gained 24.82% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 0.15% and the S&P 500's gain of 2.9% in that time.
Investors will be eagerly watching for the performance of QuantumScape Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.23, reflecting an 8% increase from the same quarter last year.
Investors might also notice recent changes to analyst estimates for QuantumScape Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. QuantumScape Corporation currently has a Zacks Rank of #4 (Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 146, this industry ranks in the bottom 43% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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QuantumScape Corporation (QS) : Free Stock Analysis Report
