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

2.06

Mkt cap

6.1B

Volume

99M

High

2.06

P/E Ratio

-1.51

52-wk high

5.31

Low

1.93

Div yield

N/A

52-wk low

1.93

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

B of A Securities analyst John Murphy maintains a Neutral rating on Lucid Group (LCID) and lowers the price target from $7 to $4.5.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 4:33 pm

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.

Portfolio Pulse from Adam Eckert

February 22, 2024 | 1:52 pm

Lucid shares dropped following mixed Q4 financial results and future guidance. The company's performance and outlook have impacted investor sentiment, leading to a decrease in stock price.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 1:40 pm

In Thursday's pre-market session, 11 consumer discretionary stocks showed significant movement. Gainers included U Power, Barnes & Noble Education, Planet Fitness, Trip.com Group, and Faraday Future, with increases ranging from 6.93% to 13.2%. Losers were led by Rivian Automotive, JX Luxventure, Kidpik, Tarena International, Etsy, and Lucid Gr, with decreases ranging from 7.3% to 14.1%. Notably, Planet Fitness, Trip.com Group, Rivian Automotive, Etsy, and Lucid Gr had their Q4 earnings reports released, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 1:06 pm

NVIDIA Corporation (NASDAQ:NVDA) shares surged 14.3% in pre-market trading after reporting Q4 financial results that exceeded expectations and provided strong Q1 revenue guidance. Other stocks also moved significantly in pre-market trading, with notable gainers including Agile Therapeutics, BuzzFeed, and Elevai Labs, among others. On the losing side, Draganfly, Synaptogenix, and Bel Fuse experienced significant drops following various announcements.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 12:55 pm

Cantor Fitzgerald analyst Andres Sheppard downgraded Lucid Group (LCID) from Neutral to Underweight and reduced the price target from $6 to $4.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 12:26 pm

Nvidia's impressive earnings report has sparked optimism in the market, leading to a jump in Nasdaq and S&P 500 futures. Investors are now focused on upcoming economic data, including jobless claims and Fed speeches, to gauge the market's direction. Other stocks mentioned include Five9, Lucid Group, Rivian Automotive, Sunnova Energy, and Sunrun, which moved on their earnings reports. Additionally, several companies are set to report their quarterly results.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 12:23 pm

Rivian Automotive and Lucid Group saw their stock prices plummet in premarket trading following disappointing earnings reports. Rivian missed production targets and announced a workforce reduction, while Lucid missed revenue expectations and provided weak delivery guidance.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 11:14 am

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