Lucid Group, Inc. (NASDAQ:LCID) Given Average Rating of “Hold” by Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received an average recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $2.68.

LCID has been the subject of several research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Wednesday, May 7th. Robert W. Baird increased their price target on Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and cut their target price for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. TD Cowen initiated coverage on Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th.

Institutional Trading of Lucid Group

Several institutional investors and hedge funds have recently modified their holdings of LCID. Sterling Investment Counsel LLC purchased a new stake in shares of Lucid Group in the 1st quarter valued at about $25,000. HB Wealth Management LLC purchased a new stake in shares of Lucid Group in the 1st quarter valued at about $25,000. Grimes & Company Inc. purchased a new stake in shares of Lucid Group in the 1st quarter valued at about $27,000. Integrity Alliance LLC. purchased a new stake in shares of Lucid Group in the 1st quarter valued at about $27,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Lucid Group in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Up 3.1%

Shares of NASDAQ:LCID opened at $2.64 on Friday. The company has a market capitalization of $8.05 billion, a PE ratio of -1.97 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The business has a fifty day moving average price of $2.49 and a two-hundred day moving average price of $2.58. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The firm had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The firm’s revenue was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.27) EPS. Analysts forecast that Lucid Group will post -1.25 earnings per share for the current year.

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.