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

Key Points

• Lucid Group, Inc. has received a consensus rating of "Hold" from analysts, with two sell recommendations, eight holds, and two buys among twelve brokerages.
• Institutional investors have shown significant interest, with the Public Investment Fund increasing its holdings by 28.8% in the last quarter, while Two Sigma Investments LP raised its stake by 4,320.7%.
• In its most recent earnings report, Lucid Group missed estimated earnings per share, reporting ($0.24) compared to the expected ($0.23), and revenue was below expectations at $235.05 million.

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) have received a consensus rating of "Hold" from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.6755.

Several research analysts have weighed in on the company. Robert W. Baird boosted their price target on Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a report on Wednesday, May 7th.

Institutional Trading of Lucid Group

A number of institutional investors and hedge funds have recently made changes to their positions in LCID. Public Investment Fund increased its holdings in shares of Lucid Group by 28.8% during the 4th 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 last quarter. Two Sigma Investments LP increased 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. Renaissance Technologies LLC increased its holdings in Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock valued at $49,950,000 after purchasing an additional 12,803,987 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Lucid Group in the 4th quarter valued at $34,123,000. Finally, Geode Capital Management LLC increased its holdings in Lucid Group by 31.4% in the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock valued at $61,214,000 after purchasing an additional 4,844,782 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Price Performance

LCID stock opened at $2.42 on Wednesday. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.97 and a current ratio of 3.32. The stock's 50 day moving average price is $2.36 and its 200 day moving average price is $2.49. The firm has a market cap of $7.38 billion, a P/E ratio of -2.00 and a beta of 0.79.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). The company had revenue of $235.05 million during the quarter, compared to analysts' expectations of $250.50 million. Lucid Group had a negative net margin of 275.73% and a negative return on equity of 68.64%. Lucid Group's quarterly revenue was up 36.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS. On average, sell-side analysts expect that Lucid Group will post -1.25 earnings per share 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.

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