Lucid Stock Is Sliding Today: What's Going On?
Portfolio Pulse from Adam Eckert
Lucid Group Inc (NASDAQ:LCID) shares fell after reporting Q4 revenue of $157.2 million, missing estimates of $179.88 million, but beating EPS estimates with a loss of 29 cents per share. The company produced 2,391 vehicles and delivered 1,734 in Q4, ending with $4.78 billion in liquidity. Lucid aims for 9,000 vehicle production in the full year and confirmed production timelines for its Gravity SUV and a midsize platform. Following the results, Cantor Fitzgerald downgraded Lucid from Neutral to Underweight, reducing the price target from $6 to $4.
February 22, 2024 | 1:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Lucid Group Inc shares declined following a Q4 revenue miss and a downgrade by Cantor Fitzgerald from Neutral to Underweight with a price target cut from $6 to $4.
Lucid's stock price is likely to face short-term pressure due to the reported revenue miss against consensus estimates and the negative sentiment from the analyst downgrade and price target reduction. These factors typically lead to a lack of investor confidence and can result in a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100