Lucid Group (NASDAQ:LCID) Issues Earnings Results

Lucid Group (NASDAQ:LCID) posted its quarterly earnings results on Monday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05), Briefing.com reports. The business had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned ($0.43) EPS.

Lucid Group Stock Performance

NASDAQ:LCID opened at $3.05 on Tuesday. Lucid Group has a 1-year low of $2.29 and a 1-year high of $8.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. The business has a 50 day moving average of $2.77 and a 200 day moving average of $3.50. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of -2.18 and a beta of 1.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley reissued an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Citigroup reiterated a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a research report on Monday, April 22nd. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Tuesday. Finally, Robert W. Baird reduced their price objective on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average target price of $4.34.

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.