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QuantumScape Corporation (QS) closed the most recent trading day at $24.51, moving -0.12% from the previous trading session. This change lagged the S&P 500’s daily gain of 1.15%.

Heading into today, shares of the company had gained 9.26% over the past month, outpacing the Auto-Tires-Trucks sector’s gain of 2.16% and the S&P 500’s loss of 4.67% in that time.

Investors will be hoping for strength from QS as it approaches its next earnings release.

It is also important to note the recent changes to analyst estimates for QS. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 208, which puts it in the bottom 19% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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