Lucid Reports Q3 EV Production And Delivery Totals: What To Know

Lucid Group, Inc. LCID shares are trading higher Monday after the company announced its EV production and delivery totals for the third quarter.

The Details:

Lucid said it produced 1,805 vehicles and delivered 2,781 vehicles for the quarter ended Sept. 30, 2024. For comparison, the company produced 2,110 vehicles and delivered 2,394 vehicles in the second quarter of 2024. 

Lucid also scheduled its third-quarter earnings report to be released after the closing bell on Nov. 7. The company will host a conference call to discuss the results at 5:30 p.m. ET the same day. Analysts expect the company to report losses of 30 cents per share and quarterly revenue of $182.233 million, according to estimates from Benzinga Pro. 

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What's Next: 

Lucid showcased its next vehicle, the Lucid Gravity SUV, at its Technology & Manufacturing Day in mid-September. The Lucid Gravity is scheduled for start of production later this year.

"Today demonstrates how the Lucid Gravity is set to be the best SUV ever, showcasing its revolutionary package and attributes only made possible with the technologies Lucid has pioneered," said Peter Rawlinson, CEO and CTO at Lucid.

Will LCID Stock Go Up?

When trying to assess whether or not Lucid Group will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $3.82 on Lucid Gr. The Street high target is currently at $4 and the Street low target is $3. Of all the analysts covering Lucid Gr, no one has a positive rating, 8 have neutral ratings and 3 have negative ratings.

In the last month, 5 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Lucid Gr have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Lucid is 19.52% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Lucid Group, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

LCID Price Action: According to Benzinga Pro, Lucid shares are up 1.65% at $3.39 at the time of publication Monday.

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Image: Courtesy of Lucid Group, Inc.