Streetbeat News

LCID

Lucid Group, Inc.

https://www.lucidmotors.com

Industry

Auto - Manufacturers

Lucid Group, Inc. a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc. was founded in 2007 and is headquartered in Newark, California.

Open

2.20

Mkt cap

5.8B

Volume

70M

High

2.28

P/E Ratio

-1.88

52-wk high

5.31

Low

2.17

Div yield

N/A

52-wk low

2.02

Citigroup analyst Itay Michaeli reinstates coverage on Lucid Group (LCID) with a Neutral rating and sets a price target of $2.9. This indicates a cautious outlook on the stock by Citigroup.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:53 pm

Tesla faced a challenging week with job cuts, price reductions, and lowered analyst expectations, impacting its stock negatively. Rivian also announced job cuts due to the industry slowdown. Canoo received a 'Buy' rating from Benchmark, while Lucid showcased its 2024 Air Grand Touring with the longest range among US EVs. Fisker announced new dealer partnerships amid bankruptcy concerns. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader market trends and specific company issues in the EV sector.

Portfolio Pulse from Shanthi Rexaline

April 20, 2024 | 1:33 pm

Significant bearish options activity has been detected in Lucid Group Inc (NASDAQ:LCID) by Benzinga's options scanner, with a notable volume of puts compared to calls. The activity suggests a bearish sentiment among large-scale traders, with a price target window from $1.0 to $3.0. Lucid Group, an EV technology company, has seen its stock price slightly increase by 0.2% to $2.44, with an RSI indicating potential oversold conditions. An analyst from Morgan Stanley maintains an Underweight rating with a target price of $3.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 4:16 pm

EV stocks, including LCID, MULN, NIO, and PSNY, are trading lower due to overall market weakness, Middle East tensions, rising yields, and potential layoffs at Tesla affecting the sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:47 pm

Lucid Gr's (NYSE:LCID) short interest has increased by 7.95% since the last report, with 277.96 million shares sold short, representing 23.5% of its float. This indicates a bearish market sentiment towards LCID, as it now has a higher short interest than most of its peers, with the peer group average at 10.50%. The article suggests that while an increase in short interest can signal bearish sentiment, it can also present bullish opportunities under certain conditions.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:00 pm

Rivian Automotive, Inc. (RIVN) and Lucid Group, Inc. (LCID) face market challenges similar to Tesla, Inc. (TSLA), with significant stock declines. Elon Musk commented on a 2021 optimistic prediction for Rivian that did not materialize, as its market cap fell below $9 billion from a forecasted $70 billion. Rivian's production struggles and the broader economic downturn have impacted its performance, despite initial high expectations and backing from Amazon. Meanwhile, Tesla's Future Fund (FFND) reduced its Tesla stake, reflecting concerns over near-term prospects, although it remains bullish on Tesla's long-term potential.

Portfolio Pulse from Shanthi Rexaline

April 15, 2024 | 9:10 am

Electric vehicle stocks had a mixed week, with Tesla, Inc. (TSLA) ending higher despite volatility. Tesla slashed its FSD subscription price by 50% to $99/month to boost adoption. Elon Musk confirmed a visit to India to discuss Tesla's plans, potentially impacting the company's strategy in the region. Nikola Corporation (NKLA) faced a setback with shares dropping due to a boardroom battle and a proxy filing by founder Trevor Milton. Ford Motor Co. (F) reduced prices for its F-150 Lightning EV, and Volkswagen AG (VWAGY) reported diverging EV sales in Europe and China. Canoo, Inc. (GOEV) announced a pilot program with Red Sea Global in Saudi Arabia. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

April 13, 2024 | 1:39 pm

Ohio Senator Sherrod Brown has called on President Biden to implement a permanent ban on electric vehicles (EVs) produced by Chinese companies, according to a letter cited by Reuters. This move could significantly impact the competitive landscape for EVs in the U.S., potentially affecting companies involved in the EV sector, including those with ties to China as well as U.S.-based EV manufacturers.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:23 pm

Lucid Group (NASDAQ:LCID) exceeded first-quarter delivery expectations with 1,967 vehicles, surpassing Visible Alpha's estimate of 1,745, despite a production shortfall. The company adjusted its strategy by reducing the prices of its Air sedans to counteract declining interest in EVs due to high interest rates. Lucid plans to expand its market with a mid-size car priced at $50,000 by 2026, directly competing with Tesla's Model Y. Tesla (NASDAQ:TSLA) reported a quarterly decline in deliveries, the first since 2020, and faces challenges in producing affordable EVs and mass-producing its Cybertruck. Rivian (NASDAQ:RIVN) also reported higher-than-expected quarterly deliveries, indicating strong performance among EV startups despite a challenging market.

Portfolio Pulse from Upwallstreet

April 10, 2024 | 2:45 pm

Lucid Group, Inc. (NASDAQ:LCID) shares rose by 4.7% after reporting a production of 1,728 vehicles for Q1 2024, despite a decrease from the previous year's 2,314 vehicles. The company also delivered more vehicles than in Q1 2023. Lucid recently secured a $1 billion investment from Ayar Third Investment Company for general corporate purposes. LCID's stock has declined over 65% in the past year. Investors can also gain exposure to LCID through ETFs like QCLN and RNEW.

Portfolio Pulse from Nabaparna Bhattacharya

April 09, 2024 | 2:16 pm

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