Lucid Group, Inc. (NASDAQ:LCID) Receives Consensus Recommendation of “Hold” from Brokerages

Lucid Group, Inc. (NASDAQ:LCIDGet Rating) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is 35.67.

A number of research analysts have weighed in on LCID shares. Zacks Investment Research upgraded Lucid Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. Morgan Stanley reduced their price objective on Lucid Group from $16.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, March 3rd. Redburn Partners began coverage on Lucid Group in a report on Tuesday, January 11th. They issued a “neutral” rating on the stock. BNP Paribas began coverage on Lucid Group in a report on Monday, April 11th. They set an “outperform” rating and a $45.00 price target for the company. Finally, Citigroup dropped their price target on shares of Lucid Group from $57.00 to $45.00 in a research note on Tuesday, March 1st.

Shares of LCID stock opened at 19.11 on Friday. Lucid Group has a 1-year low of 16.12 and a 1-year high of 57.75. The stock has a 50-day moving average of 24.20 and a 200-day moving average of 32.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 16.43 and a quick ratio of 16.11.

Lucid Group (NASDAQ:LCIDGet Rating) last posted its earnings results on Monday, February 28th. The company reported -0.37 earnings per share for the quarter, missing analysts’ consensus estimates of -0.26 by -0.11. The business had revenue of 26.40 million during the quarter, compared to analysts’ expectations of 59.87 million. The company’s quarterly revenue was up 633.3% on a year-over-year basis. Research analysts expect that Lucid Group will post -1.25 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in LCID. Franklin Resources Inc. bought a new position in Lucid Group in the 3rd quarter worth about $376,570,000. BlackRock Inc. bought a new position in Lucid Group during the 3rd quarter valued at about $192,549,000. Geode Capital Management LLC bought a new position in Lucid Group during the 3rd quarter valued at about $143,486,000. State Street Corp lifted its stake in Lucid Group by 210.2% during the 4th quarter. State Street Corp now owns 5,296,607 shares of the company’s stock valued at $201,536,000 after acquiring an additional 3,589,007 shares during the period. Finally, Coatue Management LLC bought a new position in Lucid Group during the 3rd quarter valued at about $71,443,000. Institutional investors own 69.52% of the company’s stock.

Lucid Group Company Profile (Get Rating)

Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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