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Lucid Group (LCID) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Lucid Group (LCID - Free Report) closed at $2.62, marking a -1.32% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.
Shares of the an electric vehicle automaker witnessed a loss of 15.06% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 7.62% and the S&P 500's gain of 0.48%.
The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. In that report, analysts expect Lucid Group to post earnings of -$0.24 per share. This would mark year-over-year growth of 44.19%. Meanwhile, the latest consensus estimate predicts the revenue to be $167.82 million, indicating a 12.3% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.06 per share and a revenue of $745.98 million, indicating changes of +22.06% and +25.32%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Lucid Group. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Lucid Group is carrying a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Lucid Group (LCID) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Lucid Group (LCID - Free Report) closed at $2.62, marking a -1.32% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.
Shares of the an electric vehicle automaker witnessed a loss of 15.06% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 7.62% and the S&P 500's gain of 0.48%.
The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. In that report, analysts expect Lucid Group to post earnings of -$0.24 per share. This would mark year-over-year growth of 44.19%. Meanwhile, the latest consensus estimate predicts the revenue to be $167.82 million, indicating a 12.3% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.06 per share and a revenue of $745.98 million, indicating changes of +22.06% and +25.32%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Lucid Group. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Lucid Group is carrying a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.