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On Thursday, Cantor Fitzgerald reaffirmed its Overweight rating on Lucid Group Inc . (NASDAQ:LCID), a $7.3 billion market cap EV maker, with a steady price target of $3.00. According to InvestingPro data, the company’s revenue grew 35.7% in the last twelve months. Lucid Group announced preliminary results for its first-quarter production and deliveries on April 2, 2025. The luxury electric vehicle manufacturer reported delivering 3,109 vehicles during the quarter, aligning with Cantor Fitzgerald’s projection and slightly exceeding Visible Alpha’s consensus estimates of 3,060 and 3,010 vehicles, respectively. This performance marks a significant increase from the 1,967 vehicles delivered in the first quarter of the previous year. InvestingPro analysis reveals 13 key investment tips for Lucid, including insights on its financial health and growth prospects.
In addition to the deliveries, Lucid Group disclosed that more than 600 vehicles are currently en route to Saudi Arabia, where they will undergo final assembly. This move is part of the company’s strategy to expand its global footprint and cater to international markets.
Despite the positive delivery numbers, Lucid’s production figures fell short of expectations. The company produced 2,212 vehicles in the first quarter of 2025, which is below Cantor Fitzgerald’s estimate of 3,600 vehicles but still represents an improvement from the 1,728 vehicles produced in the same quarter of 2024. While Lucid maintains a strong current ratio of 4.18 and holds more cash than debt, its gross profit margins remain challenging at -114%.
The analyst at Cantor Fitzgerald, in commenting on the results, highlighted the company’s delivery numbers as a positive sign of Lucid’s ability to meet market expectations. The production shortfall was noted but did not prompt a change in the firm’s rating or price target for Lucid Group’s stock.
Investors are observing Lucid Group’s performance as the company continues to scale up its operations and establish itself as a competitor in the electric vehicle industry. With its commitment to delivering high-quality luxury EVs and expanding its market reach, Lucid Group remains a closely watched player in the sector. Get deeper insights into Lucid’s valuation and growth prospects with InvestingPro’s comprehensive research report, part of its coverage of 1,400+ US stocks.
In other recent news, Lucid Group Inc. has announced a $1 billion convertible note offering aimed at institutional buyers, with plans to use the proceeds for repurchasing existing notes and other corporate purposes. The company has also reported its first-quarter production and delivery figures for 2025, producing 2,212 vehicles and delivering 3,109 units. Additionally, over 600 vehicles are currently en route to Saudi Arabia for final assembly. Lucid is facing challenges with delays in the delivery of its Gravity SUV due to unresolved safety issues, particularly with the third-row seating, affecting its production timeline. Despite these hurdles, Cantor Fitzgerald has maintained a Neutral rating and a $3.00 price target for Lucid, citing concerns over high negative gross margins and the need for additional capital. The firm acknowledges Lucid’s technological advancements in battery efficiency and performance but remains cautious due to recent management changes and macroeconomic conditions. Lucid’s production goal for fiscal year 2025 is set at 20,000 vehicles, aligning with Cantor Fitzgerald’s estimates. These developments come amid investor scrutiny over Lucid’s ability to meet production targets and manage operational challenges.
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