Lucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s stock price was up 1.8% during trading on Monday . The company traded as high as $2.90 and last traded at $2.84. Approximately 10,680,133 shares were traded during trading, a decline of 67% from the average daily volume of 32,764,109 shares. The stock had previously closed at $2.79.
Analyst Ratings Changes
A number of research firms recently weighed in on LCID. Citigroup reissued a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Morgan Stanley restated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, March 25th. Stifel Nicolaus lowered their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Robert W. Baird lowered their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.34.
View Our Latest Research Report on Lucid Group
Lucid Group Stock Up 9.5 %
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The company had revenue of $157.20 million during the quarter, compared to the consensus estimate of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. On average, sell-side analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norden Group LLC acquired a new position in shares of Lucid Group during the 1st quarter worth about $32,000. Van ECK Associates Corp increased its stake in Lucid Group by 34.0% in the first quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock valued at $2,558,000 after purchasing an additional 227,908 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in Lucid Group in the first quarter worth $231,000. Greenleaf Trust acquired a new stake in Lucid Group during the 1st quarter worth $65,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Lucid Group by 32.5% during the 1st quarter. Principal Financial Group Inc. now owns 62,289 shares of the company’s stock valued at $178,000 after purchasing an additional 15,286 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.
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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