Lucid Group (NASDAQ:LCID – Get Free Report) had its price objective lowered by stock analysts at Stifel Nicolaus from $4.00 to $3.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 11.52% from the company’s current price.
A number of other research firms have also recently issued reports on LCID. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Tuesday. Bank of America reduced their price objective on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley reissued an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, March 25th. Robert W. Baird reduced their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Finally, Citigroup restated a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.24.
Check Out Our Latest Analysis on LCID
Lucid Group Trading Up 2.7 %
Lucid Group (NASDAQ:LCID – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The company had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. During the same quarter in the prior year, the company posted ($0.43) EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts predict that Lucid Group will post -1.06 earnings per share for the current year.
Hedge Funds Weigh In On Lucid Group
A number of large investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Lucid Group by 7.6% during the first quarter. US Bancorp DE now owns 138,388 shares of the company’s stock worth $394,000 after purchasing an additional 9,739 shares during the period. Headlands Technologies LLC bought a new position in Lucid Group during the 1st quarter worth $716,000. Capital Square LLC boosted its holdings in shares of Lucid Group by 53.2% in the 1st quarter. Capital Square LLC now owns 28,515 shares of the company’s stock valued at $81,000 after purchasing an additional 9,900 shares in the last quarter. Meeder Advisory Services Inc. acquired a new stake in shares of Lucid Group in the 1st quarter valued at $29,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Lucid Group by 226.4% in the 1st quarter. SG Americas Securities LLC now owns 434,444 shares of the company’s stock valued at $1,238,000 after purchasing an additional 301,349 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.
About Lucid Group
Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.
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