Back to top

Image: Bigstock

Lucid Group (LCID) Stock Sinks As Market Gains: What You Should Know

Read MoreHide Full Article

Lucid Group (LCID - Free Report) closed the most recent trading day at $6.28, moving -1.88% from the previous trading session. This move lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 5.66%.

Coming into today, shares of the an electric vehicle automaker had lost 10.62% in the past month. In that same time, the Auto-Tires-Trucks sector gained 15.63%, while the S&P 500 gained 3.44%.

Wall Street will be looking for positivity from Lucid Group as it approaches its next earnings report date. The company is expected to report EPS of -$0.38, down 15.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $222.13 million, up 128.2% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.46 per share and revenue of $791.21 million, which would represent changes of +7.01% and +30.09%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Lucid Group. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.3% lower. Lucid Group is holding a Zacks Rank of #4 (Sell) right now.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Lucid Group, Inc. (LCID) - free report >>

Published in