Lucid Group (LCID) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Lucid Group (NASDAQ: LCID):

• 9/23/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 9/12/2024 – Lucid Group had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $3.00 price target on the stock.
• 9/11/2024 – Lucid Group had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 9/9/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 9/3/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 8/19/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 8/16/2024 – Lucid Group had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $3.00 price target on the stock.
• 8/6/2024 – Lucid Group was upgraded by analysts at Cantor Fitzgerald from an “underweight” rating to a “neutral” rating. They now have a $4.00 price target on the stock.
• 8/6/2024 – Lucid Group had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

Lucid Group Stock Down 0.9 %

Shares of NASDAQ LCID opened at $3.46 on Tuesday. Lucid Group, Inc. has a 12-month low of $2.29 and a 12-month high of $5.70. The stock’s fifty day simple moving average is $3.55 and its two-hundred day simple moving average is $3.04. The stock has a market capitalization of $7.98 billion, a PE ratio of -2.72 and a beta of 1.05. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The company had revenue of $200.58 million for the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. Lucid Group’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) EPS. As a group, analysts expect that Lucid Group, Inc. will post -1.22 EPS for the current fiscal year.

Insider Transactions at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 61.26% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

Large investors have recently made changes to their positions in the business. DDFG Inc acquired a new position in Lucid Group during the 4th quarter valued at about $47,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Lucid Group by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock valued at $11,488,000 after acquiring an additional 195,519 shares in the last quarter. Norges Bank purchased a new position in shares of Lucid Group in the 4th quarter valued at approximately $22,208,000. Commerce Bank boosted its stake in Lucid Group by 159.9% in the 4th quarter. Commerce Bank now owns 81,334 shares of the company’s stock worth $342,000 after purchasing an additional 50,037 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Lucid Group by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock worth $1,391,000 after purchasing an additional 3,230 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

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.