Lucid Group (NASDAQ:LCID – Get Free Report) had its price target reduced by stock analysts at Stifel Nicolaus from $4.00 to $3.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 11.52% from the stock’s current price.
A number of other analysts have also issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Tuesday. Bank of America decreased their price target on Lucid Group from $7.00 to $4.50 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 target on shares of Lucid Group in a research note on Monday, April 22nd. Robert W. Baird decreased their price target 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. Finally, Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $6.00 to $4.00 in a research note 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 company presently has a consensus rating of “Hold” and a consensus target price of $4.24.
Get Our Latest Stock Report on Lucid Group
Lucid Group Price Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The company had revenue of $172.74 million for the quarter, compared to analysts’ expectations of $173.54 million. During the same quarter in the prior year, the business posted ($0.43) EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts anticipate that Lucid Group will post -1.06 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in LCID. Alps Advisors Inc. boosted its position in Lucid Group by 19.8% during the 3rd quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company’s stock worth $18,453,000 after acquiring an additional 546,676 shares during the period. Bank of New York Mellon Corp boosted its position in Lucid Group by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company’s stock worth $23,562,000 after acquiring an additional 410,025 shares during the period. Fulton Bank N.A. boosted its position in Lucid Group by 46.5% during the 4th quarter. Fulton Bank N.A. now owns 63,511 shares of the company’s stock worth $267,000 after acquiring an additional 20,168 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Lucid Group by 10.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after acquiring an additional 1,060,588 shares during the period. Finally, Invesco Ltd. boosted its position in Lucid Group by 41.8% during the 3rd quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock worth $33,466,000 after acquiring an additional 1,763,443 shares during the period. 75.17% of the stock is currently owned by 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.
Featured Articles
- Five stocks we like better than Lucid Group
- Best Stocks Under $10.00
- How to Read an Earnings Report | Step by Step Guide with Tips
- There Are Different Types of Stock To Invest In
- Datadog: In the Doghouse or Pullback to the Buyzone?
- Where to Find Earnings Call Transcripts
- Celsius Stock’s Post-Earnings Morning Dip, Better than Coffee
Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.