Lucid Stock Price Analysis in Recent Week Moving Upside

• Lucid stock had a year-to-date price surge of more than 20%.
• Meanwhile, it noted a decrease by almost 40% as observed in the last 6 months.

Lucid Group, Inc (NASDAQ:LCID) is an electric vehicle manufacturing company. The EV company designs, develops, and builds energy storage systems for EVs and supplies automakers with the battery pack system needed to power hybrid, plug-in, and EVs.

Lucid is a young EV company that’s currently facing a vehicle production challenge. The company said it is planning to build just 10,000 to 14,000 vehicles this year. It must be noted that the company has the capacity to build more, still they made this decision to minimize their production.

The earning results over the past weeks for Lucid group illustrated the urgency of its predicament. The EV maker company said that during its Q4 earnings report that it had more than 28,000 reservations for its Air sedan as of February 21st, down from more than 34,000 reservations in November, according to a CNBC report.

Notably, Lucid recently raised $1.5 billion in funding from a share sale. As per the executives, the company had a total of $1.74 billion in cash, and cash equivalents at the end of December, which is enough to last until the first quarter of 2024.

Lucid Stock Price Analysis

According to Tradingview, Lucid stock’s recent week chart analysis shows a price surge of 3.76%. While in the current week, LCID noted the high at $9.26 and the low at $8.13. On its last trading day, LCID closed at $8.82 with a decline of 1.34%. Lucid stock prices in one week range from nearly $8.38 to $9.26.

The above chart shows the price performance of LCID stock in the recent week. The one-month price performance of LCID stock experienced almost a 24.62% decline. However, its year-to-date price marked an upsurge of 26.54%.

LCID has a current market cap of $16.364 billion. The total revenue of Lucid for the last quarter was $257.71 million, it’s 31.85% higher compared to the previous quarter. The net income of Q4 22 is $-472.65 million. The last quarter’s earnings for LCID are $-0.28, whereas the estimation was $-0.41, accounting for a 31.76% surprise. The estimated EPS for the next quarter is $-0.39, and revenue is expected to reach $205.17 million.

According to analysts, 1-year price forecasts for Lucid Group, Inc have a max estimate of $16.00 and a min estimate of $5.00.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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