Lucid Group, Inc. (NASDAQ:LCID) Receives Average Recommendation of "Hold" from Analysts

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.68.

LCID has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research report on Wednesday, May 7th. Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target on the stock in a research report on Tuesday, March 18th. Finally, 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 report on Monday, April 21st.

Lucid Group Trading Down 1.7%

LCID stock opened at $2.29 on Friday. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43. The firm has a market cap of $6.99 billion, a P/E ratio of -1.89 and a beta of 0.78. The business's 50 day moving average is $2.33 and its 200-day moving average is $2.54. The company has a current ratio of 3.32, a quick ratio of 2.97 and a debt-to-equity ratio of 0.65.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings data 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 275.73% and a negative return on equity of 68.64%. The company had revenue of $235.05 million during the quarter, compared to the consensus estimate of $250.50 million. During the same quarter in the prior year, the company posted ($0.27) earnings per share. The company's revenue for the quarter was up 36.1% on a year-over-year basis. Equities analysts anticipate that Lucid Group will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LCID. Sterling Investment Counsel LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at $25,000. HB Wealth Management LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at $25,000. Grimes & Company Inc. acquired a new position in shares of Lucid Group in the 1st quarter valued at $27,000. Integrity Alliance LLC. acquired a new position in shares of Lucid Group in the 1st quarter valued at $27,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Lucid Group by 111.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,938 shares of the company's stock valued at $29,000 after purchasing an additional 6,295 shares during the period. Institutional investors and hedge funds own 75.17% of the company's stock.

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.

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