![]() Analysts don’t project positive operating profit or free cash flow until 2026 for Lucid at the earliest. Along with production troubles, rising interest rates have sapped investors’ enthusiasm for more-speculative stocks such as Lucid that don’t generate earnings and cash flow. That will be another chance for investors to get an update from management.Ĭoming into Wednesday trading, Lucid stock is down about 67% year to date. Lucid hosts an earnings conference call to discuss its third quarter on Tuesday, Nov. Lucid managed to do just that in the third quarter. Detailed values for the Lucid Group stock price can be found in the table below. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, and Weighted Average Best Forecast. ![]() For convenience, prices are divided by color. Ramping production higher is key for Lucid, and other EV start-ups. The chart below shows the historical price of Lucid Group stock and a prediction chart for the next month. ![]() Shares are up 2% to $12.91 in early trading Wednesday. Lucid stock is rising Wednesday, after the update. Since the cut, Lucid stock is off about 38%. Lucid’s 2022 production range was cut back in August from a prior range of 12,000 to 14,000 vehicles, disappointing investors. ![]() While the production figures are good news for Lucid, the company “is still nowhere near producing at a scale” that will generate enough revenue to cover its costs, Garrett Nelson, vice president at CFRA Research, said in a note.To hit the midpoint of that guidance, Lucid will need to produce roughly 3,000 vehicles in the fourth quarter, assuming it delivers the 884 cars made but not yet shipped in the second quarter. Lucid shares closed at $13.09 on Wednesday, up 3.5 percent on the day but down from a peak of $55 last year. Rising interest rates will make it more expensive for them to borrow money or issue debt. Investors have soured on the fledgling carmakers, making it harder for them to raise cash by selling shares. Those companies can draw on decades of manufacturing experience and established networks of factories and suppliers. The window for fledgling automakers is closing as Ford Motor, Hyundai, Volkswagen, General Motors and other established carmakers introduce electric vehicles that have been popular with buyers. Rivian, which makes electric pickup trucks, said last week that it was recalling almost all of the vehicles it has produced so far because a small number have an improperly tightened fastener that could cause the steering to malfunction. Lucid said it delivered 1,400 vehicles to customers during the quarter, about twice as many as in the previous quarter.Įlectric-vehicle start-ups like Lucid and Rivian were expected to challenge the dominance of the traditional car companies with stylish, high-performance products, but have had problems making enough vehicles to gain significant market share. “Lucid believes it is on track to deliver on its previously provided 6,000 to 7,000 vehicle production guidance for full year 2022,” the company said in a statement. In August, Lucid said it would produce 6,000 to 7,000 of its battery-powered sedans this year, a goal that the company now expects to meet. The company, based in Newark, Calif., said last year that it aimed to produce 20,000 cars in 2022, but repeatedly reduced that figure after running into problems securing critical components. Lucid, an electric-vehicle maker that has struggled to ramp up manufacturing, said Wednesday that it would meet its scaled-back production targets for the year after producing 2,300 cars in the third quarter.
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