Lucid Group, Inc. (NASDAQ:LCID) Receives Consensus Rating of “Reduce” from Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCID) have been given a consensus rating of “Reduce” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $21.5375.

LCID has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a research report on Monday, December 1st. Stifel Nicolaus reduced their target price on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a research note on Wednesday, November 19th. Finally, Morgan Stanley lowered shares of Lucid Group from a “buy” rating to an “underweight” rating and cut their price objective for the company from $30.00 to $10.00 in a report on Monday.

Lucid Group Stock Performance

LCID stock opened at $12.76 on Tuesday. The company has a 50 day moving average price of $17.43 and a 200 day moving average price of $20.87. Lucid Group has a fifty-two week low of $11.46 and a fifty-two week high of $36.40. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. The stock has a market capitalization of $4.14 billion, a PE ratio of -1.19 and a beta of 0.87.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing analysts’ consensus estimates of ($2.32) by ($0.33). The firm had revenue of $336.58 million during the quarter, compared to the consensus estimate of $378.44 million. Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm’s quarterly revenue was up 68.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.76) earnings per share. Analysts forecast that Lucid Group will post -1.25 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in shares of Lucid Group by 315.0% during the third quarter. IFP Advisors Inc now owns 12,197 shares of the company’s stock worth $290,000 after purchasing an additional 9,258 shares during the period. Dark Forest Capital Management LP bought a new position in Lucid Group during the third quarter worth about $1,229,000. Uber Technologies Inc acquired a new position in shares of Lucid Group during the 3rd quarter worth about $326,283,000. Paloma Partners Management Co bought a new stake in shares of Lucid Group in the 3rd quarter valued at about $1,368,000. Finally, Holocene Advisors LP bought a new stake in shares of Lucid Group in the 3rd quarter valued at about $1,042,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.