Lucid Group, Inc. (LCID) Gains But Lags Market: What You Should Know
Lucid Group, Inc. (LCID) closed at $6.36 in the latest trading session, marking a +1.76% move from the prior day. The stock lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the company had lost 28% in the past month. In that same time, the Auto-Tires-Trucks sector lost 20.56%, while the S&P 500 lost 4.61%.
Investors will be hoping for strength from Lucid Group, Inc. as it approaches its next earnings release. On that day, Lucid Group, Inc. is projected to report earnings of -$0.42 per share, which would represent a year-over-year decline of 13.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $375 million, up 1320.99% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Lucid Group, Inc.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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 2.52% lower within the past month. Lucid Group, Inc. is currently sporting a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
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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Lucid Group, Inc. (LCID) : Free Stock Analysis Report
