Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) fell 0.4% on Thursday after Stifel Nicolaus lowered their price target on the stock from $4.00 to $3.00. Stifel Nicolaus currently has a hold rating on the stock. Lucid Group traded as low as $2.67 and last traded at $2.70. 5,843,683 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 32,804,461 shares. The stock had previously closed at $2.71.
A number of other research analysts have also issued reports on LCID. Cantor Fitzgerald lowered shares of Lucid Group from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Tuesday. Robert W. Baird decreased 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, Citigroup reiterated a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.24.
Read Our Latest Report on Lucid Group
Institutional Trading of Lucid Group
Lucid Group Price Performance
The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. The company has a market cap of $6.21 billion, a PE ratio of -1.93 and a beta of 1.04. The company has a 50-day moving average price of $2.74 and a two-hundred day moving average price of $3.46.
Lucid Group (NASDAQ:LCID – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The company had revenue of $172.74 million during the quarter, compared to analysts’ expectations of $173.54 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 up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) EPS. Sell-side analysts expect that Lucid Group, Inc. will post -1.06 earnings per share for the current fiscal year.
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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