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 reported its Q2 financial results and confirmed it is on track to meet its 2023 production target. The company also announced the final production specifications for the Lucid Air Sapphire.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 3:13 pm

Lucid Group's Q2 vehicle deliveries were disappointing, according to analysts. However, the company's shipments to Saudi Arabia, its biggest client, were seen as a positive development. Analyst Chris Pierce from Needham maintained a Buy rating but reduced the price target from $10 to $9. Analyst Andres Sheppard from Cantor Fitzgerald reaffirmed an Overweight rating and a price target of $10.

Portfolio Pulse from Priya Nigam

August 08, 2023 | 3:08 pm

Lucid has announced the final production specifications for the Lucid Air Sapphire, a fully electric luxury super-sports sedan. The car features three motors, four driving modes, carbon-ceramic brakes, sport seats, track-tuned suspension, and more. It delivers 1,234 hp and an EPA-estimated range of 427 miles on a single charge. Production begins in September, with deliveries to follow soon after.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 1:04 pm

Lucid Motors CEO Peter Rawlinson discussed the company's pricing strategy during the second-quarter earnings call. He highlighted the importance of getting more vehicles on the roads to build customer confidence. Lucid recently lowered vehicle prices and received positive feedback. The company plans to make 10,000 vehicles in 2023 and expects deliveries to increase in the second half of the year. Last week, Lucid cut the prices of its Air sedans by as much as $12,400.

Portfolio Pulse from Anan Ashraf

August 08, 2023 | 11:40 am

Needham analyst Chris Pierce maintains a Buy rating on Lucid Group (NASDAQ:LCID) but lowers the price target from $10 to $9.

Portfolio Pulse from richadhand@benzinga.com

August 08, 2023 | 11:28 am

US stocks are expected to pull back due to inflation anxieties. The earnings news flow is likely to drive the market, with oil's pullback and upcoming US inflation data keeping the mood cautious. Analysts from LPL Financial suggest a mild recession is likely within the next six to nine months. They recommend a neutral tactical allocation to equities, favoring developed international equities over emerging markets and large caps over small caps. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Several companies including Lucid Group, Paramount Global, Chegg, Beyond Meat, Eli Lilly, Fox Corp, Expeditors International of Washington, GlobalFoundries, Novavax, UPS, Warner Music Group, Akamai Technologies, Rivian Automotive, Twilio, Upstart Holdings, and Lyft are in focus due to their earnings reports.

Portfolio Pulse from Shanthi Rexaline

August 08, 2023 | 11:26 am

Lucid Motors (NASDAQ:LCID) plans to start production of its limited-production Air Sapphire in September and begin customer deliveries in October. The company also plans to unveil its Gravity SUV in November. The company ended the quarter with total liquidity of approximately $6.25 billion, which is expected to cover the production of Gravity and into 2025.

Portfolio Pulse from Anan Ashraf

August 08, 2023 | 5:06 am

US stocks closed in the green on Monday with Dow Jones, NASDAQ, and S&P 500 registering gains. Five stocks that gained attention were Palantir Technologies, Lucid Group, Beyond Meat, Paramount Global, and Tesla. Palantir's stock declined ahead of its quarterly results, with strong demand for its new AI platform. Lucid Group's shares dipped after missing Q2 revenue estimates. Beyond Meat's stock decreased following disappointing quarterly results. Paramount Global's stock surged after surpassing Q2 revenue estimates. Tesla's stock declined slightly after CFO Zachary Kirkhorn decided to leave the company.

Portfolio Pulse from Benzinga Neuro

August 08, 2023 | 1:37 am

Lucid Group Inc's CFO has announced significant improvements in logistics costs in 2023 due to routing and declining rates globally.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 9:19 pm

Lucid Group reported Q2 earnings with revenue of $150.9 million, missing the Street estimate of $201.9 million, and a loss of 40 cents per share, also missing the estimate of a loss of 35 cents. The company delivered 1,404 vehicles in Q2 and ended the quarter with $6.25 billion in total liquidity. Lucid plans to start production of the Lucid Air Sapphire and the Lucid Air Pure Real Wheel Drive in mid-September and aims to manufacture 10,000 vehicles in 2023.

Portfolio Pulse from Chris Katje

August 07, 2023 | 8:25 pm

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