Lucid Group, Inc. (NASDAQ:LCID) Receives $4.80 Average Price Target from Analysts

Lucid Group, Inc. (NASDAQ:LCID) has been given a consensus rating of “Reduce” by the ten analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $4.34.

Several equities research analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $6.00 to $4.00 in a research note on Thursday, February 22nd. Robert W. Baird cut their target price on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Citigroup reissued a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research note on Monday. Finally, Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th.

Lucid Group Price Performance

NASDAQ LCID opened at $2.55 on Thursday. The business’s fifty day moving average is $2.90 and its 200 day moving average is $3.63. Lucid Group has a fifty-two week low of $2.29 and a fifty-two week high of $8.37. The company has a market capitalization of $5.87 billion, a PE ratio of -1.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The firm had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. Lucid Group’s quarterly revenue was down 39.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Sell-side analysts predict that Lucid Group will post -1.06 earnings per share for the current year.

Institutional Trading of Lucid Group

A number of hedge funds have recently bought and sold shares of the stock. Simplicity Wealth LLC purchased a new stake in Lucid Group during the first quarter worth $42,000. Summit Trail Advisors LLC purchased a new stake in Lucid Group during the first quarter worth $35,000. PFG Investments LLC purchased a new stake in Lucid Group during the first quarter worth $47,000. First Trust Direct Indexing L.P. lifted its holdings in Lucid Group by 5.5% during 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, Norden Group LLC purchased a new stake in Lucid Group during the first quarter worth $32,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.