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Lucid Group, Inc. (LCID) Dips More Than Broader Markets: What You Should Know

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Lucid Group, Inc. (LCID - Free Report) closed at $13.97 in the latest trading session, marking a -1.55% move from the prior day. This move lagged the S&P 500's daily loss of 1.51%. Elsewhere, the Dow lost 1.71%, while the tech-heavy Nasdaq lost 0.02%.

Prior to today's trading, shares of the company had lost 7.74% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 9.93% and the S&P 500's loss of 9.52% in that time.

Investors will be hoping for strength from Lucid Group, Inc. as it approaches its next earnings release. In that report, analysts expect Lucid Group, Inc. to post earnings of -$0.33 per share. This would mark year-over-year growth of 19.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $232.5 million, up 100986.96% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.94 per share and revenue of $912.51 million. These totals would mark changes of +82.26% and +3265.83%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Lucid Group, Inc.These revisions help to show the ever-changing nature of near-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. 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.

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 12.87% higher. Lucid Group, Inc. currently has a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% 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 LCID in the coming trading sessions, be sure to utilize Zacks.com.


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