IIn the last trading session, Lucid Group, Inc. (LCID) closed at $29.96, marking a +1.94% move from the previous day. The stock topped the S&P 500 daily gain of 0.69%. Meanwhile, the Dow Jones gained 0.78% and the tech-heavy Nasdaq gained 0.28%.
Going into today, the company’s shares had lost 28.19% over the past month, lagging the Auto-Tyres-Trucks sector’s loss of 9.87% and the loss of 5.29% of the S&P 500 during this period.
Wall Street will be looking for positivity from Lucid Group, Inc. as its next earnings release date approaches.
Any recent changes in analyst estimates for Lucid Group, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated to short-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable track record of third-party audited success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has fallen 4.55% . Lucid Group, Inc. currently sports a Zacks rank of #4 (selling).
The Automotive – Domestic industry is part of the Auto-Tyres-Trucks sector. This group has a Zacks industry ranking of 92, which places it in the top 37% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
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