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Here's Why Lucid Group (LCID) Gained But Lagged the Market Today
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The latest trading session saw Lucid Group (LCID - Free Report) ending at $3.52, denoting a +0.28% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 1.25%.
The an electric vehicle automaker's stock has climbed by 7.67% in the past month, exceeding the Auto-Tires-Trucks sector's loss of 6.06% and the S&P 500's gain of 5.07%.
The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. The company is scheduled to release its earnings on February 21, 2024. The company is expected to report EPS of -$0.28, up 30% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $166.76 million, down 35.29% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Lucid Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.9% higher. Lucid Group is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 115, positioning it in the top 46% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Lucid Group (LCID) Gained But Lagged the Market Today
The latest trading session saw Lucid Group (LCID - Free Report) ending at $3.52, denoting a +0.28% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 1.25%.
The an electric vehicle automaker's stock has climbed by 7.67% in the past month, exceeding the Auto-Tires-Trucks sector's loss of 6.06% and the S&P 500's gain of 5.07%.
The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. The company is scheduled to release its earnings on February 21, 2024. The company is expected to report EPS of -$0.28, up 30% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $166.76 million, down 35.29% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Lucid Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.9% higher. Lucid Group is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 115, positioning it in the top 46% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.