In the latest trading session, QuantumScape Corporation (QS) closed at $9.35, marking a +1.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the company had gained 63.65% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 32.24% and the S&P 500's gain of 8.32% in that time.
Wall Street will be looking for positivity from QuantumScape Corporation as it approaches its next earnings report date. This is expected to be February 15, 2023. On that day, QuantumScape Corporation is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 62.5%.
Any recent changes to analyst estimates for QuantumScape Corporation should also be noted by investors. 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.59% lower. QuantumScape Corporation currently has a Zacks Rank of #4 (Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
To follow QS in the coming trading sessions, be sure to utilize Zacks.com.
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