Lucid Group (LCID) Stock Price, News & Analysis

Company Overview

Lucid Group Inc., formerly Churchill Capital Corp IV, is an American electric vehicle manufacturer based in Newark, California. Founded in 2007, the company has established a reputation for producing high-end electric vehicles. Lucid specializes in designing, engineering, and constructing electric vehicles, EV powertrains and battery systems. As of November 18, 2022, the firm operates 29 retail studios in the U.S. and 32 globally. 

Lucid Motors is renowned for its flagship electric sedan, the Lucid Air. The company produces this post-luxury vehicle at the company's Greenfield electric vehicle manufacturing facility in Casa Grande, Arizona. The Air is powered by two electric motors and can reach a software-limited top speed of 349 miles per hour. 

The Air won Motor Trend's 2022 Car of the Year, the first time a new car model earned the award. Lucid Motors teased an electric SUV concept in September 2020 called Project Gravity, featuring an image and brief video clip. Since then, it announced that Gravity will enter production in 2024.

Lucid Motors stands out for its groundbreaking technological innovation, vertical integration and clean-sheet approach to engineering and design. The firm designs, creates and builds energy storage systems for electric vehicles and supplies other automakers with the vehicle platform needed to power plug-in, hybrid and electric vehicles. Lucid Motors also partners with Amazon to build compatibility with Amazon's Alexa voice assistant, allowing drivers to use the voice assistant for navigation, phone calls, media streaming and intelligent home control while driving.

The firm has attracted investments from Tsing Capital, Mitsui, Venrock, and JAFCO. In 2018, the Public Investment Fund of Saudi Arabia invested $1 billion in Lucid Motors. In 2021, the fund committed to purchasing at least 50,000 electric vehicles and up to 100,000 electric cars from Lucid Motors over ten years. To meet the increased demand, Lucid broke ground on a Casa Grande, Arizona factory in December 2019. 

In February 2022, Lucid announced plans to construct a new manufacturing plant in Saudi Arabia to produce 150,000 vehicles annually. On December 19, 2022, Lucid Group Inc. closed a $1.5 billion funding round, including Saudi Arabia's Public Investment Fund's purchase of nearly 86 million company shares. As of the end of January 2023, speculation suggested that the Saudi Arabia Public Investment fund would discuss a buyout of Lucid Group Inc. 

Lucid Motors is also involved in the Formula E racing series. The company designs, manufactures and supplies battery packs for gen2 Formula E race teams for the 2018-2019 season through the 2021-2022 season. Lucid Motors has joined McLaren Applied Technologies and Sony to develop Formula E specifications.

Written by Jeffrey Neal Johnson

Key Stats

• Today's Range: $2.06 to $2.15
• 50-Day Range: $2.01 to $3.78
• 52-Week Range: $1.93 to $5.31
• Volume: 41.07 million shs
• Average Volume: 37.21 million shs
• Market Capitalization: $6.32 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $3.16
• Consensus Rating: Hold

Lucid Group Stock Analysis - MarketRank™

Lucid Group scored higher than 70% of companies evaluated by MarketBeat, and ranked 35th out of 91 stocks in the auto/tires/trucks sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.0 / 5
• Analyst Rating: Hold

Consensus Rating

Lucid Group has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 1 buy rating, 7 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Lucid Group has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Lucid Group are expected to grow in the coming year, from ($1.25) to ($0.88) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Lucid Group is -1.57, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Lucid Group is -1.57, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Lucid Group has a P/B Ratio of 2.36. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

44.04% of the float of Lucid Group has been sold short.

Short Interest Ratio / Days to Cover

Lucid Group has a short interest ratio ("days to cover") of 6.3.

Change versus previous month

Short interest in Lucid Group has recently increased by 12.34%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Lucid Group does not currently pay a dividend.

Dividend Growth

Lucid Group does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

44.04% of the float of Lucid Group has been sold short.

Short Interest Ratio / Days to Cover

Lucid Group has a short interest ratio ("days to cover") of 6.3.

Change versus previous month

Short interest in Lucid Group has recently increased by 12.34%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.2 / 5
• News Sentiment: -0.08

News Sentiment

Lucid Group has a news sentiment score of -0.08. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.57 average news sentiment score of Auto/Tires/Trucks companies.

News Coverage This Week

MarketBeat has tracked 15 news articles for Lucid Group this week, compared to 19 articles on an average week.

Search Interest

55 people have searched for LCID on MarketBeat in the last 30 days. This is an increase of 67% compared to the previous 30 days.

MarketBeat Follows

58 people have added Lucid Group to their MarketBeat watchlist in the last 30 days. This is an increase of 81% compared to the previous 30 days.

Company Ownership

• Score: 5.0 / 5
• Insider Trading: Acquiring Shares

Insider Buying vs. Insider Selling

In the past three months, Lucid Group insiders have bought more of their company's stock than they have sold. Specifically, they have bought $970,519,431.00 in company stock and sold $0.00 in company stock.

Percentage Held by Insiders

61.26% of the stock of Lucid Group is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

75.17% of the stock of Lucid Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

LCID Stock Analysis - Frequently Asked Questions

How have LCID shares performed this year?

Lucid Group's stock was trading at $4.21 at the start of the year. Since then, LCID shares have decreased by 50.1% and is now trading at $2.10.
View the best growth stocks for 2024 here.

How were Lucid Group's earnings last quarter?

Lucid Group, Inc. (NASDAQ:LCID) announced its quarterly earnings data on Monday, August, 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by $0.02. Lucid Group's quarterly revenue was up 32.9% on a year-over-year basis.

Who are Lucid Group's major shareholders?

Lucid Group's top institutional investors include State Street Corp (0.70%), Geode Capital Management LLC (0.66%), Wolverine Asset Management LLC and III Capital Management. Insiders that own company stock include Public Investment Fund, Eric Bach and Michael Bell.
View institutional ownership trends.

How do I buy shares of Lucid Group?

Shares of LCID stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Lucid Group own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Lucid Group investors own include Symbotic (SYM), JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), Zomedica (ZOM), Humana (HUM), Voyager Therapeutics (VYGR), American Water Works (AWK) and Tesla (TSLA).

Company Calendar

• Last Earnings: 8/05/2024
• Today: 11/23/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/19/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Auto/Tires/Trucks
• Industry: Motor vehicles & car bodies
• Sub-Industry: Automobiles And Trucks
• Current Symbol: NASDAQ:LCID
• CUSIP: N/A
• CIK: 1811210
• Web: iv.churchillcapitalcorp.com
• Phone: 510-648-3553
• Fax: N/A
• Employees: 6,500
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $3.16
• High Stock Price Target: $4.50
• Low Stock Price Target: $2.00
• Potential Upside/Downside: +50.3%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 9 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($1.34)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-2,828,420,000.00
• Net Margins: -406.63%
• Pretax Margin: -406.55%
• Return on Equity: -74.67%
• Return on Assets: -33.45%

Debt

• Debt-to-Equity Ratio: 0.77
• Current Ratio: 3.71
• Quick Ratio: 3.26

Sales & Book Value

• Annual Sales: $595.27 million
• Price / Sales: 10.62
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $0.89 per share
• Price / Book: 2.36

Miscellaneous

• Outstanding Shares: 3,011,690,000
• Free Float: 1,166,728,000
• Market Cap: $6.32 billion
• Optionable: Optionable
• Beta: 1.11