Lucid Group, Inc. (NASDAQ:LCID) is in the spotlight Tuesday as the company prepares to report fourth-quarter earnings after the market closes.
Fourth-Quarter Expectations, Recent Performance And What To Watch
Lucid is expected to report a loss of $2.64 per share on revenue of $469.20 million. The company has topped revenue estimates in one of the last four quarters and has not beaten earnings estimates during that period.
In its most recent quarter, reported on Nov. 5, Lucid posted a loss of $2.65 per share, wider than the consensus estimate for a $2.27 loss. Revenue came in at $336.58 million, below expectations of $379.11 million.
“Our team remains intensely focused on ramping up production and addressing the significant supply chain disruptions impacting the entire industry. At the same time, we continue to advance our position in autonomy and intelligent mobility, from our robotaxi partnership to our new collaboration with NVIDIA, positioning Lucid to be among the first to bring Level 4 autonomous driving to privately owned passenger vehicles,” said Marc Winterhoff, Interim CEO at Lucid, in the company’s third-quarter earnings report.
Investors should closely monitor production numbers, particularly the number of vehicles delivered, as this will indicate whether Lucid can meet its ambitious revenue targets. Additionally, keep an eye on gross margin trends, as improvements here will be essential for demonstrating that cost-cutting measures are effective in driving profitability. Lastly, watch for updates on order backlog, which will provide insight into future demand and production capacity.
Technical Picture Remains Weak
Lucid has experienced a sharp decline over the past year, with its stock price down 66.04%. This downtrend is further evidenced by its current price of $9.41, which is just above its 52-week low of $9.12. The technical indicators reinforce this bearish outlook, with the RSI at 38.85 suggesting that the stock is not yet in oversold territory, and the MACD values indicating continued bearish momentum.
Lucid Stock Trading Flat
LCID Price Action: At the time of writing, Lucid shares are trading flat at $9.44, according to data from Benzinga Pro.
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