Lucid Group, Inc. (NASDAQ:LCID) Given Average Rating of “Hold” by Brokerages

Lucid Group, Inc. (NASDAQ:LCID) has earned an average rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $2.68.

A number of equities analysts recently commented on the company. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Cowen assumed coverage on Lucid Group in a research note on Thursday, March 6th. They set a “hold” rating for the company. Robert W. Baird increased their price target on Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.19 on Tuesday. The company has a quick ratio of 2.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.65. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of -1.81 and a beta of 0.81. The business has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.59. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.43.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $235.05 million during the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative net margin of 275.73% and a negative return on equity of 68.64%. The business’s revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. As a group, equities research analysts predict that Lucid Group will post -1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Lucid Group in the 4th quarter worth approximately $780,000. XTX Topco Ltd boosted its holdings in shares of Lucid Group by 395.7% in the 4th quarter. XTX Topco Ltd now owns 849,140 shares of the company’s stock worth $2,564,000 after purchasing an additional 677,846 shares during the period. Norges Bank purchased a new position in shares of Lucid Group in the 4th quarter worth approximately $9,446,000. Renaissance Technologies LLC boosted its holdings in shares of Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after purchasing an additional 12,803,987 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of Lucid Group by 4,320.7% in the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock worth $47,873,000 after purchasing an additional 15,493,320 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.