Lucid Group (NASDAQ:LCID) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Lucid Group's stock has received a "sell (D-)" rating from Weiss Ratings, reflecting ongoing concerns about the company's performance.
• Recent target price adjustments include a range between $2.10 and $30.00, with an overall consensus target of $23.85 among analysts.
• Despite missing earnings expectations with a reported EPS of ($2.80), Lucid Group experienced a 29.3% increase in revenue year-over-year, totaling $259.43 million.

Lucid Group (NASDAQ:LCID - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus set a $2.10 target price on Lucid Group in a report on Friday, August 29th. Cantor Fitzgerald increased their target price on Lucid Group from $20.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Finally, Morgan Stanley increased their target price on Lucid Group to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $23.85.

Lucid Group Stock Up 2.3%

LCID stock opened at $22.52 on Wednesday. Lucid Group has a fifty-two week low of $15.25 and a fifty-two week high of $36.40. The business's 50-day moving average is $21.58 and its two-hundred day moving average is $23.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.11 and a current ratio of 2.58. The company has a market cap of $6.92 billion, a price-to-earnings ratio of -1.96 and a beta of 0.81.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($2.80) earnings per share for the quarter, missing analysts' consensus estimates of ($2.20) by ($0.60). Lucid Group had a negative net margin of 259.57% and a negative return on equity of 79.40%. The firm had revenue of $259.43 million during the quarter, compared to the consensus estimate of $288.10 million. During the same period in the prior year, the company posted ($2.90) EPS. The firm's revenue was up 29.3% compared to the same quarter last year. As a group, analysts forecast that Lucid Group will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LCID. Sterling Investment Counsel LLC bought a new position in shares of Lucid Group in the first quarter worth about $25,000. HB Wealth Management LLC purchased a new stake in shares of Lucid Group during the first quarter worth about $25,000. Cigna Investments Inc. New purchased a new stake in shares of Lucid Group during the second quarter worth about $25,000. Valeo Financial Advisors LLC grew its position in shares of Lucid Group by 9.7% during the second quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company's stock worth $25,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Tyche Wealth Partners LLC purchased a new stake in shares of Lucid Group during the second quarter worth about $26,000. Institutional investors 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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