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

RBC Capital analyst Tom Narayan has reiterated a 'Sector Perform' rating on Lucid Group (NASDAQ:LCID) and maintained a price target of $6.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:58 pm

Lucid Group's electric drive system has been praised by automotive engineer and tear-down expert Sandy Munro, who stated that it is the only system he has seen that can beat Tesla's drive motor. Despite facing challenges in ramping up production and selling its high-end EVs in a tough economic climate, Lucid has managed to keep operations going with the help of its Saudi promoters. The company's shares ended Monday's session down 4.73% at $5.64.

Portfolio Pulse from Shanthi Rexaline

September 19, 2023 | 7:55 am

Tesla Inc is reportedly in early talks with Saudi Arabia about setting up a new manufacturing facility in the country. The deal could be complicated due to Saudi Arabia's existing partnership with Lucid Group Inc, in which the Saudi Public Investment Fund holds a majority stake. A potential deal could help Tesla ramp up production and secure increased access to metals and minerals needed for EV manufacturing.

Portfolio Pulse from Adam Eckert

September 18, 2023 | 12:55 pm

Electric vehicle (EV) stocks saw gains this week, with Tesla (TSLA) benefiting from an upgrade by Morgan Stanley and the potential of its Dojo supercomputer. Tesla's Giga Mexico construction could start soon, and the company is planning to raise $1.8 billion through securitization of its electric car leases. Nikola (NKLA) CEO Steve Girsky addressed concerns over a recall of its battery-electric trucks, stating it does not affect production or deliveries of the fuel-cell electric vehicle. Rivian (RIVN) held its own in the EV market, with registrations for its vehicles increasing in July. Faraday Future (FFIE) saw a jump in shares after a video of a reality TV personality taking delivery of his FF 91 2.0 Futurist Alliance. Volkswagen (VWAGY) plans to cut staff due to low demand for electric cars.

Portfolio Pulse from Shanthi Rexaline

September 16, 2023 | 1:05 pm

The week ending on Sept. 8 saw a general downtrend in electric vehicle (EV) stocks, with some exceptions like Tesla. Key events included Tesla's Giga Shanghai plant producing its 2 millionth vehicle, and the company's focus on robotaxis. Deutsche Bank flagged risks to Tesla's Q3 production and deliveries. Lucid Group's CEO was reported as the highest paid automotive CEO in 2022, while the company struggles with production and deliveries. Fisker plans to increase production of its Ocean electric SUV. Nikola faced more fire incidents with its Trey electric semi-trucks. Honda adopted Tesla's North American Charging Standard for its future EV models.

Portfolio Pulse from Shanthi Rexaline

September 09, 2023 | 2:40 pm

RBC Capital Markets analyst Tom Narayan initiated coverage on Lucid Group Inc (LCID) with a Sector Perform rating and a price target of $6. Despite Lucid's technology being more efficient than Tesla (TSLA) and other OEMs, the analyst notes low brand awareness and modest demand acceleration. Lucid's strategic partnership with Aston Martin is seen as a potential for future licensing deals. The analyst estimates revenue and adjusted EBITDA loss for FY23, FY24, and FY25.

Portfolio Pulse from Lekha Gupta

September 08, 2023 | 6:31 pm

Lucid Group, Inc. (NASDAQ:LCID) shares are trading lower, down more than 6% over the last five days. The stock has attracted attention from retail investors and short-sellers, with 16.51% of shares being sold short. Lucid is planning to expand into the Chinese market and introduce cheaper, mass-market electric vehicle models. RBC Capital analyst Tom Narayan initiated coverage on Lucid Group with a Sector Perform rating and a price target of $6.

Portfolio Pulse from Erica Kollmann

September 08, 2023 | 4:44 pm

RBC Capital analyst Tom Narayan has initiated coverage on Lucid Gr (NASDAQ:LCID) with a Sector Perform rating and a price target of $6.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:13 pm

Lucid Motors (NASDAQ:LCID) is planning to expand into the Chinese EV market and introduce mass-market electric vehicle models. The company has not yet established a timeline for this expansion. Lucid is also planning to expand its product range into lower-price categories, with a mid-sized car model potentially unveiled by 2026. This comes amid a difficult period for Lucid, which cut about 18% of its workforce in March due to declining demand and reported increasing net losses for the second quarter.

Portfolio Pulse from Benzinga Neuro

September 07, 2023 | 3:16 am

Shares of Lucid Group are trading lower as electric vehicle (EV) stocks experience a downturn amid weakness in growth names.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 7:37 pm

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