What's Going On With EV-Maker Lucid Group's Stock Ahead Of Earnings?

Lucid Group, Inc. LCID shares are trading higher Monday. The company is set to report its first-quarter financial results Monday after the bell. 

The Details:

Lucid revealed new details about the 2024 Lucid Air Grand Touring in April. The EV will feature an EPA-estimated range of 516 miles, the longest range of any EV in the U.S. market, and a starting price of $109,900.

The company is set to announce its first-quarter financial results Monday after the market close and will host a conference call to discuss the results at 5:30 p.m. ET. According to estimates from Benzinga Pro, analysts expect the company to report losses of 26 cents per share and quarterly revenue of $155.986 million.

According to data from Benzinga Pro, Lucid shares are trading above the stock’s 50-day moving average of $2.78 and 30.37% of available shares are being sold short. A large percentage of short-sellers can lead to outsized price moves when combined with a news catalyst or heavy trading volume. 

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Is LCID A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Lucid‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Lucid does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 13.26%, you'll need to buy a share of Arbor Realty Trust by the May. 15, 2024. Once done, you can expect to receive a nominal payout of $0.43 on May. 31, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Lucid Group will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

LCID Price Action: According to Benzinga Pro, Lucid Group shares are up 2.52% at $2.85 at the time of publication Monday.

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