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

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) have earned an average rating of "Hold" from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two investment 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $2.68.

LCID has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research report on Wednesday, May 7th. Finally, Morgan Stanley upgraded shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price objective for the company in a research note on Tuesday, March 18th.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Investment Counsel LLC bought a new position in shares of Lucid Group during the 1st quarter valued at about $25,000. HB Wealth Management LLC bought a new position in shares of Lucid Group during the 1st quarter valued at about $25,000. Cigna Investments Inc. New bought a new position in shares of Lucid Group during the 2nd quarter valued at about $25,000. Grimes & Company Inc. bought a new position in shares of Lucid Group during the 1st quarter valued at about $27,000. Finally, Integrity Alliance LLC. bought a new position in shares of Lucid Group during the 1st quarter valued at about $27,000. Institutional investors own 75.17% of the company's stock.

Lucid Group Price Performance

LCID traded up $0.06 during midday trading on Friday, reaching $2.33. 79,841,554 shares of the company's stock were exchanged, compared to its average volume of 85,516,616. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.32 and a quick ratio of 2.97. The stock has a market capitalization of $7.09 billion, a PE ratio of -1.93 and a beta of 0.78. The business's 50-day moving average price is $2.33 and its 200 day moving average price is $2.53. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings data 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 net margin of 275.73% and a negative return on equity of 68.64%. The firm had revenue of $235.05 million during the quarter, compared to analyst estimates of $250.50 million. During the same period in the prior year, the firm earned ($0.27) EPS. The business's quarterly revenue was up 36.1% on a year-over-year basis. As a group, equities analysts anticipate that Lucid Group will post -1.25 EPS for the current fiscal 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.