In the latest trading session, QuantumScape Corporation (QS) closed at $24.30, marking a -0.37% move from the previous day. This change lagged the S&P 500’s daily gain of 0.3%.
Prior to today’s trading, shares of the company had gained 16.92% over the past month. This has outpaced the Auto-Tires-Trucks sector’s gain of 1.93% and the S&P 500’s loss of 2.37% in that time.
Wall Street will be looking for positivity from QS as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for QS. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
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. 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 240, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.