In the latest trading session, Lucid Group, Inc. (LCID) closed at $14.09, marking a +0.86% move from the previous day. This change lagged the S&P 500's 2.59% gain on the day. At the same time, the Dow added 2.66%, and the tech-heavy Nasdaq gained 0.07%.
Heading into today, shares of the company had lost 7.85% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 8.91% and the S&P 500's loss of 9.22% in that time.
Lucid Group, Inc. will be looking to display strength as it nears its next earnings release. Our most recent consensus estimate is calling for quarterly revenue 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.
Investors might also notice recent changes to analyst estimates for Lucid Group, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 12.87% higher. Lucid Group, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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