QuantumScape Corporation (QS) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, QuantumScape Corporation (QS) closed at $42.25, marking a +0.96% move from the previous day. This change outpaced the S&P 500's 0.33% gain on the day.

Prior to today's trading, shares of the company had lost 21.51% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 2.06% and the S&P 500's gain of 4.77% in that time.

QS will be looking to display strength as it nears its next earnings release.

It is also important to note the recent changes to analyst estimates for QS. These revisions help to show the ever-changing nature of 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. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QS 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 186, which puts it in the bottom 27% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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