Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.31 and last traded at $2.34, with a volume of 8532110 shares changing hands. The stock had previously closed at $2.45.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on LCID. Stifel Nicolaus dropped their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Bank of America lowered their price objective on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Robert W. Baird decreased their price target on 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 price target on shares of Lucid Group in a research note on Monday, March 25th. Finally, Citigroup reissued a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research note on Monday. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Lucid Group has an average rating of “Hold” and a consensus target price of $4.34.
Get Our Latest Analysis on Lucid Group
Lucid Group Price Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last announced its earnings results 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). Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $179.88 million. During the same period in the prior year, the business earned ($0.40) EPS. The company’s quarterly revenue was down 39.0% compared to the same quarter last year. Sell-side analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current year.
Institutional Investors Weigh In On Lucid Group
Hedge funds have recently modified their holdings of the stock. UniSuper Management Pty Ltd lifted its holdings in shares of Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after purchasing an additional 3,700 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Lucid Group during the fourth quarter valued at $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Lucid Group during the third quarter valued at $38,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Lucid Group by 309.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,468 shares of the company’s stock valued at $47,000 after purchasing an additional 6,398 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Lucid Group during the fourth quarter valued at $43,000. 75.17% of the stock is owned by hedge funds and other 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.
Featured Stories
- Five stocks we like better than Lucid Group
- With Risk Tolerance, One Size Does Not Fit All
- Charles Schwab Fortifies its Uptrend on EPS Beat
- 5 discounted opportunities for dividend growth investors
- Lockheed Martin Stock Aims for a Fresh All-Time High
- Upcoming IPO Stock Lockup Period, Explained
- Beyond the Halving: The Future of Bitcoin Mining Stocks
Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.