Lucid Group (NASDAQ:LCID) Price Target Cut to $17.00 by Analysts at Stifel Nicolaus

Lucid Group (NASDAQ:LCID) had its price objective decreased by analysts at Stifel Nicolaus from $21.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 19.72% from the stock’s previous close.

A number of other research analysts also recently commented on LCID. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a research note on Thursday. Morgan Stanley upped their price target on shares of Lucid Group to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 2nd. Finally, Cantor Fitzgerald decreased their price objective on shares of Lucid Group from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $23.59.

Lucid Group Stock Down 6.4%

NASDAQ LCID opened at $14.20 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 1.19. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -1.33 and a beta of 0.80. The company has a 50 day moving average of $20.01 and a 200-day moving average of $22.25. Lucid Group has a 1-year low of $14.19 and a 1-year high of $36.40.

Lucid Group (NASDAQ:LCID) last posted 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 company had revenue of $336.58 million for the quarter, compared to the consensus estimate of $378.44 million. Lucid Group had a negative return on equity of 85.13% and a negative net margin of 224.99%.Lucid Group’s revenue was up 68.3% on a year-over-year basis. During the same quarter last year, the business earned ($2.76) EPS. On average, equities research analysts expect that Lucid Group will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lucid Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in LCID. Valeo Financial Advisors LLC grew its stake in shares of Lucid Group by 9.7% during the second quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company’s stock worth $25,000 after buying an additional 1,055 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Lucid Group by 27.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company’s stock worth $44,000 after acquiring an additional 3,882 shares during the last quarter. Amalgamated Bank increased its holdings in Lucid Group by 9.3% in the 2nd quarter. Amalgamated Bank now owns 55,350 shares of the company’s stock worth $117,000 after purchasing an additional 4,720 shares in the last quarter. Heritage Wealth Advisors raised its position in Lucid Group by 43.5% in the second quarter. Heritage Wealth Advisors now owns 16,500 shares of the company’s stock valued at $35,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Lucid Group by 47.5% during the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock valued at $33,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors 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.