QuantumScape Corporation (QS) closed the most recent trading day at $7.29, moving -1.35% from the previous trading session. This change lagged the S&P 500's 0.82% gain on the day. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw an increase of 0.95%.
Shares of the company have depreciated by 13.37% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 6.96% and the S&P 500's gain of 5.59%.
The investment community will be paying close attention to the earnings performance of QuantumScape Corporation in its upcoming release. The company is slated to reveal its earnings on February 14, 2024. The company is predicted to post an EPS of -$0.23, indicating an 8% growth compared to the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for QuantumScape Corporation. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QuantumScape Corporation currently has a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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