Lucid Group (LCID) Ascends While Market Falls: Some Facts to Note

Lucid Group (LCID) ended the recent trading session at $2.09, demonstrating a +0.48% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.76%. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 0.18%.The an electric vehicle automaker's stock has dropped by 24.91% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 20.91% and the S&P 500's loss of 7.29%.Investors will be eagerly watching for the performance of Lucid Group in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 20% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $233.4 million, reflecting a 35.12% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.93 per share and a revenue of $1.41 billion, indicating changes of +25.6% and +74.63%, respectively, from the former year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.05% decrease. 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 160, positioning it in the bottom 37% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lucid Group, Inc. (LCID): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks