Which are the popular auto stocks to explore in August? - Kalkine Media

August 05, 2021 01:59 PM PDT | By Kiran Murali
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  • The auto industry is recovering at a faster pace from the impact of the pandemic last year.
  • However, the automakers are now grappling with the shortage of semiconductors.
  • Electric vehicle maker Tesla is the largest automaker in market capitalization.

Automakers around the world had a severe impact on their business last year with the outbreak of coronavirus. But the sector witnessing a faster-than-expected recovery and is poised to grow strongly in the years ahead.

Currently, the automotive industry is grappling with a shortage of semiconductors. Several automakers had to adjust their vehicle production plans because of this issue.

Here, we explore a few stocks of automotive companies trading on Wall Street.

Tesla Inc. (NASDAQ: TSLA)

California-based Tesla is the largest automaker in the world in terms of market capitalization. The company designs and manufactures electric vehicles, energy generation and storage systems. Tesla delivered a total of 499,550 electric vehicles last year while it produced 509,737 units.

Tesla currently has a market cap of US$708.19 billion and a P/E ratio of 371.74. The stock rose 1.27 percent year to date. It was trading in the range of US$127.60 and US$185.99 the last one year.

In its second quarter ended June, Tesla saw its net income multiply over 10 times to US$1.14 billion from the year-ago quarter as revenue almost doubled to US$10.21 billion. The company produced 206,421 cars and delivered 201,250 units in the quarter.

READ MORE: Tesla races past a milestone, hits US$1 billion in revenues for first time

General Motors Company (NYSE: GM)

General Motors is one of the top U.S. automakers. It designs and manufactures cars, trucks and crossovers under a number of brands including Chevrolet, Cadillac, Buick and GMC. In 2020, General Motors recorded 3.4 million in wholesale vehicle sales.

The Detroit-based automaker has a market cap of US$79.31 billion. It has a P/E ratio of 8.53. The share price is up 30.74 percent this year. In the 52-week period, the stock traded between US$26.15 and US$64.30.

General Motors reported a net income of US$2.78 billion in its second quarter, compared to a net loss of US$780 million. Total net sales and revenue doubled to US$34.17 billion from the year-ago quarter.

READ MORE: Earnings Alert: General Motors (GM), Honda Motor (HMC) net income soars

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Ford Motor Company (NYSE: F)

The Michigan-based automaker designs and manufactures vehicles Ford and Lincoln brands. It registered over 4.5 million vehicles in retail sales last year globally and has a market share of 5.8 percent. The company also has investments in autonomous driving systems company Argo AI and micro-mobility service provider Spin.

Ford has a market capitalization of US$54.72 billion. It has a P/E ratio of 15.74. Its stock soared 55.97 percent year to date. During the last one-year period, the shares were trading in the range of US$6.41 to US$16.45.

In its second quarter, Ford reported an adjusted EBIT of US$1.08 billion, against US$1.95 billion EBIT loss in the year-ago period. Revenue during the period grew to US$26.75 billion from US$19.37 billion.

READ MORE: Ford Among Most Active Stocks After EV Investment Boost

Fisker Inc. (NYSE: FSR)

Fisker is a California-based electric vehicle maker. It is expected to start the production of its first Fisker Ocean electric SUV in the fourth quarter of next year. Fisker has a partnership with Canadian auto parts maker Magna International to produce Fisker Ocean exclusively in Europe.

The company’s market cap is around US$4.58 billion. Its stock increased 6 percent year to date. The shares were priced between US$8.70 and US$31.96 in one-year period.

Fisker had reported a net loss of US$176.8 million during the first quarter ended March on US$22,000 in revenue. It had zero debt and cash and cash equivalents of US$985.4 million at the end of the quarter. The company projects its capital expenditure in 2021 to come in between US$210 million and US$240 million.

 Source: Pixabay

READ MORE: XPeng Inc (XPEV) and NIO Inc (NIO): 2 trending Chinese EV stocks

Lucid Group Inc. (NASDAQ: LCID)

Lucid is another California-based electric vehicle maker, which is currently producing its first electric car Lucid Air from its factory in Arizona. Lucid Air received over 11,000 reservations and its delivery is expected to start this year.

Lucid became public on NASDAQ on July 26 after its merger with blank check company Churchill Capital Corp IV.

It currently has market cap of US$36.74 billion. The stock dropped around 10 percent since it started trading under the ticker LCID. The shares, which opened for trading at US$25.24 on July 26, closed at US$22.75 on August 5.

READ MORE: EV carmaker Lucid makes NASDAQ debut, stock jumps as much as 19%

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.

The reference data in this article has been partly sourced from Refinitiv.


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