Lucid Group's (LCID) Neutral Rating Reiterated at Citigroup

Lucid Group (NASDAQ:LCID - Get Free Report)'s stock had its "neutral" rating restated by Citigroup in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They currently have a $2.90 target price on the stock. Citigroup's price objective indicates a potential upside of 21.85% from the company's previous close.

Several other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald cut shares of Lucid Group from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $6.00 to $4.00 in a research note on Thursday, February 22nd. Stifel Nicolaus lowered their price target on shares of Lucid Group from $5.00 to $4.00 and set a "hold" rating on the stock in a research note on Monday, February 26th. Robert W. Baird reduced their price objective on shares of Lucid Group from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. Morgan Stanley reissued an "underweight" rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Finally, Bank of America lowered their price target on Lucid Group from $7.00 to $4.50 and set a "neutral" rating on the stock in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Lucid Group currently has an average rating of "Hold" and a consensus target price of $4.34.

Lucid Group Trading Down 2.9 %

LCID traded down $0.07 during midday trading on Monday, reaching $2.38. 20,256,160 shares of the company were exchanged, compared to its average volume of 34,539,844. The stock has a market capitalization of $5.47 billion, a P/E ratio of -1.70 and a beta of 1.01. Lucid Group has a one year low of $2.31 and a one year high of $8.37. The stock's 50-day simple moving average is $2.93 and its 200 day simple moving average is $3.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm's revenue was down 39.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) EPS. As a group, analysts forecast that Lucid Group will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. increased its position in shares of Lucid Group by 150.4% in the third quarter. Vontobel Holding Ltd. now owns 160,585 shares of the company's stock worth $898,000 after purchasing an additional 96,451 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Lucid Group by 27.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 20,703 shares of the company's stock valued at $116,000 after buying an additional 4,409 shares in the last quarter. DnB Asset Management AS raised its stake in Lucid Group by 4.7% during the third quarter. DnB Asset Management AS now owns 139,913 shares of the company's stock worth $782,000 after acquiring an additional 6,229 shares in the last quarter. Naples Global Advisors LLC bought a new position in shares of Lucid Group in the third quarter worth about $287,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Lucid Group by 24.3% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 19,443 shares of the company's stock valued at $109,000 after purchasing an additional 3,803 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

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.