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

Lucid Group Inc (NASDAQ:LCID) shares increased by 1.89% to $3.23, despite no specific news. The rise follows a sell-off post-earnings last week. Lucid announced showcasing three new electric vehicles at the Geneva International Motor Show and plans to expand in Europe with more retail and service offerings. New models include the SUV Gravity, Air Sapphire, and a Rear-Wheel-Drive version of the Air Pure, featuring short charging times and long ranges. Lucid Air buyers will receive a Wallbox charging station and maintenance service.

Portfolio Pulse from Henry Khederian

February 28, 2024 | 3:55 pm

Stifel lowered its price target on Lucid Group Inc (NASDAQ:LCID) from $5 to $4 but maintained a 'hold' rating, citing 'best-in-class' technology and potential positives like a lower-priced Lucid Air sedan and focus on cost control. Despite these positives and plans for the Gravity SUV production, concerns over cash burn prevent a 'buy' rating. Lucid reported a Q4 revenue miss and a loss of 29 cents per share, with total costs of $894 million. The company aims to produce 9,000 vehicles this year, up from 8,428 in 2023. Lucid shares closed up 4.3% on Monday and rose 1.59% in Tuesday's premarket, but are down 24.1% year-to-date.

Portfolio Pulse from Anan Ashraf

February 27, 2024 | 10:36 am

Wall Street saw a subdued start to the week with major indices showing little change. The S&P 500 and Nasdaq 100 experienced minor adjustments, while the iShares Russell 2000 ETF (IWM) saw a slight increase. Treasury yields rose, impacting the iShares 20+ Year Treasury Bond ETF (TLT). In the stock market, Tesla (TSLA) and other EV stocks rallied, while Alphabet (GOOGL) fell due to concerns over its Gemini AI tool. Crypto-related stocks like Marathon Digital Holdings (MARA), Coinbase Global (COIN), and Riot Platforms (RIOT) surged alongside Bitcoin. Other notable movements included Palo Alto Networks (PANW) and R1 RCM (RCM) seeing significant gains.

Portfolio Pulse from Piero Cingari

February 26, 2024 | 7:35 pm

Stifel analyst Stephen Gengaro maintains a Hold rating on Lucid Group (LCID) and lowers the price target from $5 to $4.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:16 pm

Lucid Group, Inc. (NASDAQ: LCID) announced the European debut of three electric vehicles (EVs) at the Geneva International Motor Show, including the SUV Gravity, the Air Sapphire, and a Rear-Wheel-Drive version of the Air Pure. The company also revealed expanded service offerings and an updated portfolio for its Air lineup, marking a significant step in its European market expansion.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:54 am

This week in the EV sector, bearish sentiment surrounded Tesla, with its stock underperforming due to a double miss in Q3 2023 earnings and price adjustments. Rivian and Lucid faced production challenges and disappointing earnings, while Ford paused F-150 Lightning shipments. Nio is testing humanoid robots for production efficiency, and Volvo plans to cut its stake in Polestar. The KraneShares Electric Vehicles ETF saw a slight decline.

Portfolio Pulse from Shanthi Rexaline

February 24, 2024 | 3:17 pm

Nvidia Corp. (NASDAQ:NVDA) reported exceptional earnings, driving its stock and the broader market to record highs. The company's AI division's success, with a 70% market share in AI chips, positions Nvidia as a leader in the emerging 'AI factories' sector. Other companies and ETFs related to Nvidia and tech, such as C3.ai (NASDAQ:AI) and Advanced Micro Devices Inc. (NASDAQ:AMD), are also set to benefit. Meanwhile, the Federal Reserve's cautious stance on rate cuts and expanded sanctions against Russia mark significant economic developments. Additionally, notable mentions include Palo Alto Networks Inc. (NASDAQ:PANW) facing challenges due to strategic shifts, and Elon Musk's skepticism towards Lucid Group Inc. (NASDAQ:LCID) and Rivian Automotive Inc. (NASDAQ:RIVN) in the EV market.

Portfolio Pulse from Piero Cingari

February 23, 2024 | 9:05 pm

Etsy shares fell by around 8% after reporting mixed Q4 financial results, missing earnings estimates but beating sales forecasts. Other stocks showed significant movements, with La Rosa Holdings, BuzzFeed, and Monopar Therapeutics among the top gainers, while Draganfly, Greenbrook TMS, and Synaptogenix led the losers. Notable movements were also seen in companies like Rivian Automotive, Lucid Group, and Sunnova Energy due to various announcements and financial results.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 6:38 pm

Lucid Group Inc (NASDAQ:LCID) reported Q4 financial results with revenue of $157.2 million, missing estimates, but a smaller loss per share than expected. The company produced 2,391 vehicles and delivered 1,734 in Q4, and issued a full-year production guidance of approximately 9,000 vehicles. Following the report, Lucid shares fell 16.8% to $3.08. Analysts from Cantor Fitzgerald and B of A Securities adjusted their price targets on Lucid Group, with Cantor Fitzgerald also downgrading the stock.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 5:40 pm

In Thursday's intraday session, several consumer discretionary stocks showed significant movement. Fitell, GigaCloud Tech, Golden Heaven Group Holdings, Codere Online Luxembourg, Installed Building Products, and Jumia Technologies were among the gainers, with increases ranging from 10.73% to 30.1%. On the downside, Rivian Automotive, Lucid Group, BowFlex, Standard Motor Products, Yunji, and REE Automotive experienced declines between 10.97% and 25.4%. Notably, earnings reports influenced some of these movements.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 5:31 pm

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