Cantor Fitzgerald Lifts Earnings Estimates for Lucid Group

Lucid Group, Inc. (NASDAQ:LCID - Free Report) - Investment analysts at Cantor Fitzgerald raised their FY2025 earnings per share (EPS) estimates for shares of Lucid Group in a research note issued on Wednesday, May 7th. Cantor Fitzgerald analyst A. Sheppard now forecasts that the company will earn ($1.03) per share for the year, up from their prior forecast of ($1.07). Cantor Fitzgerald has a "Neutral" rating and a $3.00 price objective on the stock. The consensus estimate for Lucid Group's current full-year earnings is ($1.25) per share.

Lucid Group (NASDAQ:LCID - Get Free Report) last released 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). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The business had revenue of $235.05 million during the quarter, compared to analysts' expectations of $250.50 million. During the same period in the previous year, the business earned ($0.27) EPS. The business's revenue was up 36.1% on a year-over-year basis.

Several other research firms have also recently weighed in on LCID. Cowen assumed coverage on Lucid Group in a report on Thursday, March 6th. They issued a "hold" rating on the stock. Bank of America cut Lucid Group from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price objective on the stock in a report on Tuesday, March 18th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Finally, Benchmark reissued a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $2.68.

Lucid Group Price Performance

Shares of NASDAQ:LCID traded up $0.03 on Friday, hitting $2.65. The company's stock had a trading volume of 99,679,834 shares, compared to its average volume of 66,827,251. The company has a 50-day simple moving average of $2.37 and a 200 day simple moving average of $2.55. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The company has a market capitalization of $8.03 billion, a PE ratio of -1.98 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.

Institutional Investors Weigh In On Lucid Group

Several hedge funds have recently made changes to their positions in LCID. Public Investment Fund boosted its position in shares of Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after purchasing an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. raised its stake in Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after buying an additional 26,172,852 shares during the last quarter. Two Sigma Investments LP raised its stake in Lucid Group by 4,320.7% during the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock valued at $47,873,000 after buying an additional 15,493,320 shares during the last quarter. Renaissance Technologies LLC raised its stake in Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock valued at $49,950,000 after buying an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Lucid Group during the fourth quarter valued at $34,123,000. 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.