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

Electric vehicle stocks experienced a downturn in the week ending Nov. 11, with Lucid Group reporting a disappointing quarter and lowering its 2023 production outlook. Tesla faced unionization support from President Biden and labor issues in Sweden, while also adjusting prices in China. Fisker is seeking manufacturing partners, and Canoo unveiled a new electric truck. Mercedes-Benz is expanding its charging network in the U.S. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

November 11, 2023 | 3:28 pm

Lucid Group Inc has launched the RangeXchange, a vehicle-to-vehicle (V2V) adapter that allows its Lucid Air to directly charge other electric vehicles. The adapter facilitates energy transfer from the battery pack of Lucid Air to another EV at a rate of up to 9.6 kW. The RangeXchange feature will initially be available to U.S. owners who will need to purchase a separate RangeXchange charging cable adapter.

Portfolio Pulse from Anan Ashraf

November 10, 2023 | 4:32 am

Benzinga's options activity scanner has identified significant trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Lucid Group (LCID), Nike (NKE), MGM Resorts (MGM), Airbnb (ABNB), Starbucks (SBUX), Rivian (RIVN), Ford (F), Booking Holdings (BKNG), and Wayfair (W). The options activity ranges from bullish to bearish sentiment, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 5:35 pm

Lucid Gr (NASDAQ:LCID) has received mixed analyst ratings in the last quarter, with 1 bullish, 5 indifferent, and 1 somewhat bearish. The average price target is $5.57, implying an upside from the current price of $4.015. However, this average has decreased by 30.37% from the previous average price target of $8.00.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 3:00 pm

Morgan Stanley analyst Adam Jonas has maintained an Underweight rating on Lucid Group (NASDAQ:LCID) and lowered the price target from $5 to $4.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:25 pm

Lucid Group, Inc. (NASDAQ:LCID) has introduced RangeXchange, a new feature that allows a Lucid Air to charge another electric vehicle (EV). This is enabled by Lucid's bi-directional charging technology and proprietary software. The feature will first be offered to U.S. owners and requires the purchase of a RangeXchange charging cable adapter.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:10 pm

The Saudi wealth fund, Public Investment Fund (PIF), has increased its stake in British luxury carmaker Aston Martin (OTC:AMGDF) to 20.5%, according to a recent regulatory filing. This move comes after Aston Martin's disappointing quarterly results. The newly acquired shares were granted to PIF-controlled Lucid Group (NASDAQ:LCID), which also revealed a 3.44% stake in Aston Martin.

Portfolio Pulse from Benzinga Neuro

November 09, 2023 | 4:41 am

Tesla CEO Elon Musk has agreed with a prediction that Lucid Group, an EV maker led by a former Tesla employee, may go private due to its loss-making streak. Lucid recently reported a quarterly loss of 28 cents per share and revenue of $137.8 million. The company is now aiming to produce only 8,000-8,500 vehicles this year, down from its initial projection of over 10,000 units. Lucid is 60% owned by Saudi Arabia’s Public Investment Fund, which has invested about $5.4 billion into Lucid since 2018.

Portfolio Pulse from Anan Ashraf

November 09, 2023 | 3:22 am

Benzinga's options activity scanner has identified significant trading activity in 10 consumer discretionary stocks. Bullish sentiment was observed in Tesla (TSLA), Lucid Group (LCID), DraftKings (DKNG), Carvana (CVNA), NIO Inc. (NIO), and Luminar Technologies (LAZR). Bearish sentiment was observed in Airbnb (ABNB), Caesars Entertainment (CZR), and Rivian (RIVN). Neutral sentiment was observed in YETI Holdings (YETI).

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 5:35 pm

RF Lafferty analyst Jaime Perez has downgraded Lucid Gr (NASDAQ:LCID) from Buy to Hold and announced a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 4:24 pm

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