Lucid Group, Inc. (NASDAQ:LCID) Given Consensus Rating of “Reduce” by Brokerages

Lucid Group, Inc. (NASDAQ:LCID) has earned an average rating of “Reduce” from the ten analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.80.

Several brokerages have issued reports on LCID. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Bank of America cut their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Robert W. Baird dropped their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd.

Lucid Group Price Performance

LCID opened at $2.42 on Thursday. The company has a 50 day moving average of $3.00 and a two-hundred day moving average of $3.73. Lucid Group has a 52-week low of $2.35 and a 52-week high of $8.37. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43. The company has a market cap of $5.57 billion, a P/E ratio of -1.73 and a beta of 1.01.

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

Hedge Funds Weigh In On Lucid Group

Several large investors have recently added to or reduced their stakes in LCID. True North Advisors LLC increased its stake in Lucid Group by 43.0% during the first quarter. True North Advisors LLC now owns 54,871 shares of the company’s stock valued at $156,000 after purchasing an additional 16,501 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Lucid Group by 154.2% during the 1st quarter. Ballentine Partners LLC now owns 28,693 shares of the company’s stock valued at $82,000 after buying an additional 17,405 shares during the last quarter. Wedmont Private Capital acquired a new stake in Lucid Group during the first quarter worth about $136,000. HighPoint Advisor Group LLC bought a new position in Lucid Group in the fourth quarter worth about $46,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Lucid Group by 24.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company’s stock valued at $7,184,000 after acquiring an additional 334,923 shares during the period. 75.17% of the stock is currently owned by institutional investors.

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.