Cantor Fitzgerald reissued their underweight rating on shares of Lucid Group (NASDAQ:LCID – Free Report) in a research report released on Monday morning, Benzinga reports. The firm currently has a $4.00 price objective on the stock.
A number of other brokerages have also recently issued reports on LCID. Citigroup reissued a neutral rating and issued a $2.90 target price on shares of Lucid Group in a research report on Monday, April 22nd. Stifel Nicolaus decreased their target price on Lucid Group from $4.00 to $3.00 and set a hold rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a hold rating on shares of Lucid Group in a research note on Tuesday, May 7th. Finally, Morgan Stanley reiterated an underweight rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $4.24.
Read Our Latest Stock Report on LCID
Lucid Group Stock Up 1.1 %
Lucid Group (NASDAQ:LCID – Get Free Report) last announced its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The firm had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the company earned ($0.43) earnings per share. Equities research analysts forecast that Lucid Group will post -1.16 earnings per share for the current year.
Institutional Trading of Lucid Group
A number of institutional investors have recently modified their holdings of the business. Cetera Advisors LLC boosted its stake in shares of Lucid Group by 84.5% in the first quarter. Cetera Advisors LLC now owns 19,015 shares of the company’s stock valued at $54,000 after buying an additional 8,710 shares in the last quarter. Swedbank AB purchased a new stake in shares of Lucid Group in the first quarter valued at approximately $82,000. Tidal Investments LLC boosted its stake in shares of Lucid Group by 12.7% in the first quarter. Tidal Investments LLC now owns 338,712 shares of the company’s stock valued at $965,000 after buying an additional 38,072 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Lucid Group by 13.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 55,253 shares of the company’s stock valued at $157,000 after buying an additional 6,363 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Lucid Group by 946.6% in the first quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after buying an additional 474,534 shares in the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.
Lucid Group Company Profile
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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