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

Zacks Equity Research
·2 min read

QuantumScape Corporation (QS) closed at $25.14 in the latest trading session, marking a -0.75% move from the prior day. This change lagged the S&P 500's 0.37% gain on the day.

Coming into today, shares of the company had gained 5.02% in the past month. In that same time, the Auto-Tires-Trucks sector gained 3.67%, while the S&P 500 gained 2.13%.

QS will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2021.

Any recent changes to analyst estimates for QS should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 230, which puts it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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