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

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received an average recommendation of “Reduce” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $4.24.

A number of research analysts have weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, March 25th. Cantor Fitzgerald restated an “underweight” rating and set a $4.00 target price on shares of Lucid Group in a report on Monday. Stifel Nicolaus lowered 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. Citigroup restated a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th.

Institutional Investors Weigh In On Lucid Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its stake in 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 acquiring an additional 3,230 shares during the period. Heritage Wealth Advisors grew its stake in Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after buying an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Lucid Group by 24.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock worth $89,000 after buying an additional 4,170 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Lucid Group by 5.5% in the first quarter. First Trust Direct Indexing L.P. now owns 82,922 shares of the company’s stock worth $236,000 after buying an additional 4,350 shares during the period. Finally, Capital Square LLC lifted its stake in Lucid Group by 34.7% in the fourth quarter. Capital Square LLC now owns 18,615 shares of the company’s stock valued at $78,000 after buying an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Trading Up 1.1 %

Shares of LCID opened at $2.64 on Tuesday. Lucid Group has a twelve month low of $2.29 and a twelve month high of $8.37. The firm has a market capitalization of $6.09 billion, a P/E ratio of -2.08 and a beta of 1.04. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $2.70 and its 200 day simple moving average is $3.05.

Lucid Group (NASDAQ:LCID) 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 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 quarter last year, the business earned ($0.43) earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that Lucid Group will post -1.16 earnings per share for the current year.

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.