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

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

A number of analysts have recently weighed in on LCID shares. TD Cowen started coverage on Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 price objective on the stock. Stifel Nicolaus cut their price objective on Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a research report on Friday, March 7th. Morgan Stanley upgraded shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th. Finally, Cowen assumed coverage on shares of Lucid Group in a research note on Thursday, March 6th. They set a "hold" rating for the company.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently bought and sold shares of LCID. Public Investment Fund boosted its stake 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 worth $5,348,084,000 after buying an additional 396,188,386 shares during the period. Vanguard Group Inc. boosted its stake in shares of Lucid Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 110,933,835 shares of the company's stock worth $268,460,000 after buying an additional 615,108 shares during the period. Geode Capital Management LLC boosted its stake in shares of Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock worth $61,214,000 after buying an additional 4,844,782 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after buying an additional 12,803,987 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Lucid Group by 4,320.7% in the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock valued at $47,873,000 after purchasing an additional 15,493,320 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Stock Down 4.0%

Shares of NASDAQ LCID opened at $2.66 on Friday. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The business's 50 day moving average is $2.47 and its two-hundred day moving average is $2.57. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of -1.99 and a beta of 0.88.

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 return on equity of 74.67% and a negative net margin of 406.63%. The company had revenue of $235.05 million for the quarter, compared to analysts' expectations of $250.50 million. During the same period in the prior year, the company posted ($0.27) EPS. The firm's revenue was up 36.1% compared to the same quarter last year. Research analysts predict that Lucid Group will post -1.25 EPS 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.

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