Lucid Group (NASDAQ:LCID) Stock Price Down 0.4%

Lucid Group, Inc. (NASDAQ:LCIDGet Free Report) fell 0.4% during trading on Tuesday . The stock traded as low as $2.57 and last traded at $2.60. 2,969,440 shares were traded during trading, a decline of 90% from the average session volume of 30,556,830 shares. The stock had previously closed at $2.61.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LCID shares. Bank of America cut their target price on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Robert W. Baird decreased their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research report on Monday, April 22nd. Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Stifel Nicolaus decreased their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.24.

Read Our Latest Stock Analysis on Lucid Group

Lucid Group Trading Down 1.5 %

The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. The firm has a market cap of $5.93 billion, a P/E ratio of -2.03 and a beta of 1.06. The firm’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $3.18.

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

Hedge Funds Weigh In On Lucid Group

Several institutional investors have recently modified their holdings of LCID. GAMMA Investing LLC bought a new position in shares of Lucid Group during the fourth quarter valued at about $28,000. Meeder Advisory Services Inc. purchased a new position in shares of Lucid Group during the 1st quarter worth approximately $29,000. Norden Group LLC bought a new position in shares of Lucid Group in the 1st quarter worth approximately $32,000. Heritage Wealth Advisors boosted its position in shares of Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new stake in Lucid Group in the first quarter worth $35,000. 75.17% of the stock is currently owned by institutional investors.

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.

See Also

Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.