QuantumScape Corporation (QS) closed at $27 in the latest trading session, marking a -0.18% move from the prior day. This change lagged the S&P 500’s daily gain of 0.15%.
Prior to today’s trading, shares of the company had gained 27.17% over the past month. This has outpaced the Auto-Tires-Trucks sector’s gain of 4.96% and the S&P 500’s loss of 0.58% in that time.
Wall Street will be looking for positivity from QS as it approaches its next earnings report date.
Any recent changes to analyst estimates for QS should also be noted by investors. 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. Over the past month, the Zacks Consensus EPS estimate 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 203, which puts it in the bottom 21% 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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QuantumScape Corporation (QS): Free Stock Analysis Report
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