Lucid Group, Inc. (NASDAQ:LCID) Receives Average Recommendation of “Reduce” from Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCIDGet Free Report) have been given a consensus recommendation of “Reduce” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.24.

A number of research analysts have weighed in on LCID shares. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Bank of America reduced their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, March 25th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Tuesday, May 7th. Finally, Citigroup reissued a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd.

Check Out Our Latest Report on Lucid Group

Institutional Trading of Lucid Group

A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in shares of Lucid Group by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 248,101 shares of the company’s stock worth $1,387,000 after purchasing an additional 2,449 shares during the last quarter. M&T Bank Corp increased its stake in shares of Lucid Group by 12.8% in the 3rd quarter. M&T Bank Corp now owns 26,770 shares of the company’s stock worth $150,000 after acquiring an additional 3,046 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Lucid Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 58,547 shares of the company’s stock valued at $327,000 after acquiring an additional 3,055 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Lucid Group by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after purchasing an additional 3,230 shares during the period. Finally, UniSuper Management Pty Ltd increased its position in Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after purchasing an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Trading Up 0.7 %

NASDAQ LCID opened at $2.85 on Monday. Lucid Group has a 1 year low of $2.29 and a 1 year high of $8.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.12. The company has a market capitalization of $6.58 billion, a PE ratio of -2.24 and a beta of 1.06. The company has a fifty day moving average of $2.70 and a 200 day moving average of $3.28.

Lucid Group (NASDAQ:LCIDGet Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The company had revenue of $172.74 million for the quarter, compared to analysts’ expectations of $173.54 million. During the same quarter in the previous year, the business posted ($0.43) EPS. The business’s quarterly revenue was up 15.6% on a year-over-year basis. Research analysts forecast that Lucid Group will post -1.16 earnings per share for the current year.

About Lucid Group

(Get Free Report

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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Analyst Recommendations for Lucid Group (NASDAQ:LCID)

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