Shares of Lucid (NASDAQ:LCID) gained in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at -$0.40, which missed analysts’ consensus estimate of -$0.34 per share. Sales increased by 55.1% year-over-year, with revenue hitting $150.87 million. This also missed analysts’ expectations by $54 million.
According to Lucid’s press release, the company delivered 1,404 vehicles in the quarter and claimed to be on track to manufacture 10,000 vehicles in 2023. Lucid ended the second quarter with approximately $6.25 billion in total liquidity, which is expected to fund the Company into 2025.
What is a Good Price for LCID Stock?
Overall, Wall Street has a consensus price target of $8.67 on LCID stock, implying 35.26% upside potential, as indicated by the graphic above.
