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Lucid Group, Inc. (LCID) Gains As Market Dips: What You Should Know

·2 min read

Lucid Group, Inc. (LCID) closed at $16.60 in the latest trading session, marking a +1.78% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.5%.

Prior to today's trading, shares of the company had lost 6.05% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 10.25% and the S&P 500's loss of 6.69% in that time.

Lucid Group, Inc. will be looking to display strength as it nears its next earnings release.

LCID's full-year Zacks Consensus Estimates are calling for earnings of -$1.15 per share and revenue of $1.51 billion. These results would represent year-over-year changes of +78.3% and +5461.1%, respectively.

Investors should also note any recent changes to analyst estimates for Lucid Group, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Lucid Group, Inc. currently has a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.

To follow LCID in the coming trading sessions, be sure to utilize Zacks.com.

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