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

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has received an average rating of "Hold" from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $2.68.

Several research analysts have commented on the stock. Morgan Stanley raised shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target for the company in a report on Tuesday, March 18th. Robert W. Baird boosted their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Redburn Atlantic lowered shares of Lucid Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research note on Wednesday, May 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LCID. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Lucid Group by 27.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company's stock worth $44,000 after purchasing an additional 3,882 shares in the last quarter. Sei Investments Co. increased its holdings in Lucid Group by 14.0% in the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock worth $109,000 after acquiring an additional 4,431 shares in the last quarter. Voya Investment Management LLC increased its holdings in Lucid Group by 4.0% in the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock worth $363,000 after acquiring an additional 4,591 shares in the last quarter. Alpine Global Management LLC grew its holdings in shares of Lucid Group by 7.4% during the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock worth $203,000 after buying an additional 4,653 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Lucid Group by 1.9% during the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company's stock worth $818,000 after buying an additional 5,022 shares in the last quarter. Institutional investors own 75.17% of the company's stock.

Lucid Group Stock Performance

Shares of LCID opened at $2.15 on Tuesday. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $6.56 billion, a P/E ratio of -1.60 and a beta of 0.81. The firm's fifty day simple moving average is $2.44 and its two-hundred day simple moving average is $2.59. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $235.05 million during the quarter, compared to analyst estimates of $250.50 million. During the same quarter in the prior year, the company earned ($0.27) EPS. The company's revenue was up 36.1% on a year-over-year basis. As a group, analysts predict that Lucid Group will post -1.25 EPS for the current year.

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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