How to Buy Lucid Group Stock
Lucid Group Inc
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.
Lucid Group stock last closed at $2.45, down 3.92% from the previous day, and has decreased 63.65% in one year. It has overperformed other stocks in the Auto Manufacturers industry by 0.05 percentage points. Lucid Group stock is currently +6.99% from its 52-week low of $2.29, and -70.73% from its 52-week high of $8.37.
There are currently 2.3B shares of LCID outstanding. The market capitalization of LCID is $5.64B. In the past 24 hours, 14.62M LCID shares were traded.
How to Buy Lucid Group Stock
Wondering how to invest in Lucid Group stock? Here's how.
- Decide where to buy Lucid Group stock: You need to decide on an online brokerage, but don't worry - we've tried dozens of online brokerages and apps to help you determine where to buy Lucid Group stock.
- Create your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've identified.
- Fund your brokerage account: Pick your method of payment and add your details.
- Analyze Lucid Group stock: The Lucid Group ticker symbol is LCID. Is Lucid Group stock a good investment? Should you buy shares of LCID? How do LCID's underlying business fundamentals look? Do top analysts think Lucid Group is a good buy? Why has LCID's stock price moved recently? (Hint: Our stock market analysis website can help you understand if LCID is a good stock to buy).
- Execute your LCID trade: Decide if you will purchase LCID shares at the current market price or use a limit order to buy LCID stock at a specific price.
- Get updates on your LCID investment: Create a watchlist to monitor your investment in Lucid Group shares.
Step 1: Decide where to buy Lucid Group stock
You need an online brokerage account in order to access the NASDAQ market and buy LCID stock.
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Open eToro AccountStep 2: Create your brokerage account
Now that you've chosen your brokerage, the next step is to fill out some personal info so you can buy LCID today.
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- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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Step 3: Fund your brokerage account
Now that you have opened your account on the best investment app, your next step is to transfer the money for your investment:
Check out the tutorial below if you need help depositing funds into your brokerage account.
Step 4: Analyze Lucid Group stock
Once you have figured out the best place to buy Lucid Group stock, it's important to analyze their stock prior to investing, so you can wrap your head around the risk and upside.
Lucid Group stock quick numbers
LCID Due Diligence Checks
WallStreetZen was designed to help average investors perform more in-depth fundamental analysis.
You can view all of the due diligence checks on LCID's stock page.
Is LCID stock overvalued?
Analysts use many financial metrics, analyses, models, and charts to gauge LCID's true value.
Using relative valuations methods:
- LCID could be undervalued based on its P/B ratio of 1.16x, relative to Auto Manufacturers industry P/B ratio of 2.13x
You can do more valuation analysis on LCID's stock here.
A look at LCID Cashflows and Balance Sheet
Positive Financial Indicators:
- There are more short-term assets than short-term liabilities on the LCID balance sheet.
- LCID has cash burn of 3400397000. It has enough cash and short-term investments to cover this for at least one year.
- There are more short-term assets than long-term liabilities on the LCID balance sheet.
Negative Financial Indicators:
- LCID has $3.86B in cash and short term investments. This is not sufficient to cover its annual cash burn of $3.40B.
- LCID has a relatively high debt to equity ratio of 0.76.
- LCID profit margin has gone down from -214.5% to -475.1% in the past year.
Is Lucid Group stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 9 Wall Street analysts who research LCID, the consensus analyst rating on LCID is a Hold
Please keep in mind that analyst ratings are not recommendations, nor are they investment advice.
Latest LCID Analyst Ratings
John Murphy, a bottom 3% analyst from Bank of America maintains LCID with a hold rating and lowers their LCID price target from $7.00 to $4.50, on Feb 22, 2024.
Andres Sheppard, a bottom 5% analyst from Cantor Fitzgerald downgrades LCID to a strong sell rating and lowers their LCID price target from $6.00 to $4.00, on Feb 22, 2024.
Jaime Perez, a bottom 5% analyst from RF Lafferty downgrades LCID to a hold rating and announces their LCID price target of $5.00, on Nov 8, 2023.
RF Lafferty's Jaime Perez downgraded their rating on Lucid Group (NASDAQ: LCID) from Strong Buy to Hold on 2023/11/08. The analyst also announced a $5 price target.
Responding to Lucid's Q3 2023 earnings report, released on 2023/11/07, Perez noted that the company's Q3 production fell by 37% to just 1,550 vehicles, and management reduced its production forecast to between 8,000 to 8,500 for the year, down significantly from its prior guidance of 10,000.
The reason management provided for the production cut was "to match output with demand," the analyst reported.
Weaker-than-expected demand for Lucid's offerings, a consequence of higher interest rates, and recent EV price wars, were the specific reasons for their downgrade of the stock from Strong Buy to Hold, Perez said.
Earnings Report
For Q3 2023, Lucid reported:
- Loss per share of $0.28, which was roughly in line with the Zacks Consensus Estimate but beat Q3 2022’s $(0.40).
- Revenue of $137.81M, which missed the Zacks Consensus Estimate of $153.44M and, by 29.5%, Q3 2022’s $195.46M.
- 1,550 vehicles produced.
- Capex of $192.5M.
Management guided for FY 2023:
- Production of 8,000 to 8,500 vehicles (previously greater than 10,000 vehicles).
- Capex of $1B to $1.1B.
- Lucid Gravity SUV production is to begin in late 2024.
CEO & CTO Peter Rawlinson commented: "We delivered on our commitments to complete the Lucid Air lineup on time with Pure RWD and Sapphire, transition general assembly to our Phase 2 factory in Arizona, and open our first plant in Saudi Arabia.
“We recognize we still have work to do on our customer journey and deliveries.
"Next week, we look forward to the world premiere of the Lucid Gravity, our amazing vehicle that will redefine the electric SUV.
“Gravity remains on track to begin production in late 2024."
Chris Pierce, a bottom 1% analyst from Needham maintains LCID with a buy rating and lowers their LCID price target from $9.00 to $5.00, on Nov 8, 2023.
You can dive deeper into what analysts are saying on the Lucid Group stock forecast page.
LCID Technicals
How are LCID Revenues/Earnings doing?
Last year, LCID revenue was $595.27M. In the past 4 year, LCID's revenue has increased by 237.46% per year. This was faster than the Auto Manufacturers industry average of 35.7%.
Find out more about LCID's earnings and revenue performance here.
Latest Insiders Trades at LCID
Over the last year, insiders at LCID have bought more shares than they have sold.
Eric Bach, SVP Product Chief Engineer of LCID, was the latest LCID insider to sell. They sold $173,904.72 worth of LCID shares on Apr 9, 2024.
Dig into more about who owns LCID stock here.
Does LCID stock generate passive income?
No, Lucid Group doesn't provide an income stream by paying out dividends.
LCID Social Trading Data
One of the reasons eToro is our favorite brokerage is because of its social trading community.
Click below to learn what other community members have to say.
Step 5: Execute your LCID trade
There are two main order types:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are generally the easiest way to buy. - Limit order: A limit order allows you to buy or sell a stock at a specific price (or better).
If you want to be certain you're buying or selling at a specific dollar amount limit, place a limit order.
Click the Open button and your broker will place your order.
If you want more help with investing in stocks on eToro, watch the how to video below:
Step 6: Get updates on your LCID investment
Now that you own some LCID shares, you'll want to stay up-to-date on your new shares.
Make a watchlist to monitor your LCID stock.
LCID Feed
How to Buy Stock in Lucid Group
To reiterate, here are the 6 steps you need to take to buy Lucid Group stock right now:
- Decide where to buy Lucid Group stock
- Create your brokerage account
- Fund your brokerage account
- Analyze Lucid Group stock
- Execute your LCID trade
- Get updates on your LCID investment
If you require a brokerage account, eToro is our recommended option.
Get Started with eToro TodayIf you want to get notifications regarding your new investment in Lucid Group, add LCID to your watchlist by clicking the button below.
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