Lucid Group, Inc. (NASDAQ:LCID) Receives $4.24 Consensus PT from Brokerages

Lucid Group, Inc. (NASDAQ:LCIDGet Free Report) has received a consensus recommendation of “Reduce” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $4.24.

LCID has been the subject of several recent analyst reports. Bank of America reduced their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Robert W. Baird reduced their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Citigroup reaffirmed a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a report on Monday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, May 8th.

Check Out Our Latest Stock Analysis on Lucid Group

Lucid Group Stock Down 4.0 %

Lucid Group stock opened at $2.54 on Friday. Lucid Group has a twelve month low of $2.29 and a twelve month high of $8.37. The stock has a 50 day moving average of $2.68 and a two-hundred day moving average of $3.22. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -2.00 and a beta of 1.06.

Lucid Group (NASDAQ:LCIDGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) earnings per share. As a group, research analysts expect that Lucid Group will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Lucid Group

Several hedge funds have recently bought and sold shares of LCID. Vanguard Group Inc. increased its position in Lucid Group by 12.4% during the fourth quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock worth $350,486,000 after buying an additional 9,175,312 shares in the last quarter. Norges Bank purchased a new position in Lucid Group during the fourth quarter worth $22,208,000. Invesco Ltd. increased its position in Lucid Group by 41.8% during the third quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock worth $33,466,000 after buying an additional 1,763,443 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Lucid Group by 10.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after buying an additional 1,060,588 shares in the last quarter. Finally, abrdn plc increased its position in Lucid Group by 95.3% during the fourth quarter. abrdn plc now owns 2,001,372 shares of the company’s stock worth $8,426,000 after buying an additional 976,351 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

About Lucid Group

(Get Free Report

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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Analyst Recommendations for Lucid Group (NASDAQ:LCID)

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