tl;dr
Needham downgraded Lucid Group (LCID) from Buy to Hold, expressing concerns about the company's ability to license its EV efficiency technology and its partnership agreement with Aston Martin. Analyst Chris Pierce cited doubts about mass market adoption of LCID's technology at $20k to $30k per vehic...
Needham downgraded Lucid Group (LCID) from Buy to Hold, expressing concerns about the company's ability to license its EV efficiency technology and its partnership agreement with Aston Martin. Analyst Chris Pierce cited doubts about mass market adoption of LCID's technology at $20k to $30k per vehicle. Needham maintained its Buy rating for Rivian Automotive (RIVN), asserting strong demand for Rivian's EVs compared to excess supply in the broader industry. However, the firm expressed higher levels of uncertainty around demand and/or production for other startups and Tesla (TSLA). Shares of LCID fell 1.45% in premarket trading on Monday, while RIVN was down 0.40%.
More about Lucid Group Inc
Lucid Group Inc, a real estate and construction company, has shown a decrease in stock performance with a decrease of 1.5%. Market sentiment appears to be bearish with a negative trend of -0.295, indicating potential risks and uncertainties in the market. The company's financial metrics show a net income of 695,833,000 and a stock price of 5.06. The data suggests a need for caution and further analysis before making any investment decisions.
More about Rivian Automotive Inc
Key financial metrics for Rivian Automotive Inc. include a market capitalization of $15.7 billion, with a negative net income of $6.02 per share and a positive earnings per share of $4.033. The company has a total revenue of $3.78 billion and a current stock price of $26.83.
Stock performance has been volatile, with a negative net income and positive earnings per share indicating potential growth but also uncertainty. Market sentiment may be cautious due to the negative net income, but the positive earnings per share could indicate potential for future growth.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market and 23% of the battery-electric market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States and is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020. The company's stock performance shows a market capitalization of $748.48 billion, with a stock price of $75.71, a 0% dividend yield, a P/E ratio of 3.11, and a beta of 0.112. Market sentiment indicates a potential downside with a negative EPS of -0.442 and a current ratio of 0.088, signaling potential risks and uncertainties in the market.
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