In the latest trading session, QuantumScape Corporation (QS) closed at $21.08, marking a -1.45% move from the previous day. This move lagged the S&P 500’s daily loss of 0.77%.
Coming into today, shares of the company had lost 5.02% in the past month. In that same time, the Auto-Tires-Trucks sector lost 0.81%, while the S&P 500 gained 1.55%.
Investors will be hoping for strength from QS as it approaches its next earnings release.
It is also important to note the recent changes to analyst estimates for QS. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. QS is holding a Zacks Rank of #3 (Hold) right now.
The Automotive – Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 25% 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.
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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