Lucid Group (NASDAQ: LCID) announced preliminary production updates today with a production of 2,282 vehicles during Q3 at its manufacturing facility in Arizona, more than triple the production of vehicles in Q2. The electric vehicle company delivered 1,398 vehicles during the third quarter.
The company stated that it remains on track to produce 6,000 to 7,000 vehicles for FY22. Lucid is expected to announce its Q3 results on November 8.
Is Lucid a Sell or Buy?
Analysts are cautiously optimistic about LCID with a Moderate Buy consensus rating based on three Buys, one Hold, and one Sell.
The average price forecast for LCID stock of $22 implies a reasonable 66.1% upside potential to current levels.
