QuantumScape Corporation (QS) closed at $34.15 in the latest trading session, marking a +1.94% move from the prior day. This move outpaced the S&P 500's daily loss of 0.92%.
Coming into today, shares of the company had lost 46.14% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.25%, while the S&P 500 gained 6.83%.
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. 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 a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 23% 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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