Back to top

Image: Bigstock

Lucid Group (LCID) Stock Moves -0.91%: What You Should Know

Read MoreHide Full Article

In the latest trading session, Lucid Group (LCID - Free Report) closed at $5.45, marking a -0.91% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.94%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 1.53%.

Heading into today, shares of the an electric vehicle automaker had lost 9.31% over the past month, lagging the Auto-Tires-Trucks sector's gain of 13.98% and the S&P 500's gain of 1.85% in that time.

Investors will be hoping for strength from Lucid Group as it approaches its next earnings release. On that day, Lucid Group is projected to report earnings of -$0.31 per share, which would represent year-over-year growth of 22.5%. Our most recent consensus estimate is calling for quarterly revenue of $231.68 million, up 18.53% from the year-ago period.

LCID's full-year Zacks Consensus Estimates are calling for earnings of -$1.51 per share and revenue of $782.1 million. These results would represent year-over-year changes of +3.82% and +28.6%, respectively.

Investors might also notice recent changes to analyst estimates for Lucid Group. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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 remained stagnant within the past month. Lucid Group is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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