Lucid Group, Inc. (NASDAQ:LCID) Receives $9.22 Consensus PT from Brokerages

by · The Markets Daily

Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) have been assigned a consensus rating of “Reduce” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.2222.

A number of equities analysts have commented on the company. Citigroup decreased their target price on Lucid Group from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 19th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $7.00 price target (down from $8.00) on shares of Lucid Group in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a report on Wednesday, June 24th. Zacks Research upgraded Lucid Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, William Blair downgraded Lucid Group to a “market perform” rating in a research note on Monday, August 3rd.

View Our Latest Analysis on Lucid Group

Lucid Group Stock Down 1.9%

Shares of NASDAQ:LCID opened at $4.04 on Thursday. The company’s fifty day moving average is $5.88 and its two-hundred day moving average is $6.83. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.57 and a current ratio of 1.14. Lucid Group has a 1-year low of $2.37 and a 1-year high of $25.23. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -0.30 and a beta of 0.81.

Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($2.78) EPS for the quarter, missing the consensus estimate of ($2.36) by ($0.42). The business had revenue of $405.35 million during the quarter, compared to analyst estimates of $381.59 million. Lucid Group had a negative net margin of 249.21% and a negative return on equity of 1,391.51%. The company’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period last year, the firm posted ($0.24) earnings per share. Equities analysts anticipate that Lucid Group will post -12.15 EPS for the current year.

Hedge Funds Weigh In On Lucid Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Lucid Group by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock worth $127,488,000 after acquiring an additional 701,826 shares during the period. Bank of America Corp DE boosted its stake in Lucid Group by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,919,073 shares of the company’s stock valued at $18,289,000 after purchasing an additional 189,134 shares during the period. Bank of New York Mellon Corp grew its position in Lucid Group by 11.8% in the 1st quarter. Bank of New York Mellon Corp now owns 449,196 shares of the company’s stock worth $4,281,000 after purchasing an additional 47,427 shares during the last quarter. Lazard Asset Management LLC grew its position in Lucid Group by 192.6% in the 1st quarter. Lazard Asset Management LLC now owns 304,737 shares of the company’s stock worth $2,904,000 after purchasing an additional 200,604 shares during the last quarter. Finally, Calamos Advisors LLC increased its stake in shares of Lucid Group by 50.0% in the first quarter. Calamos Advisors LLC now owns 225,000 shares of the company’s stock valued at $2,144,000 after purchasing an additional 75,000 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.

About Lucid Group

(Get Free Report)

Lucid Group, Inc is an electric vehicle (EV) manufacturer that develops, engineers and produces luxury electric cars and SUVs. The company’s operations include vehicle design, battery systems, electric powertrains, software and charging technologies, with an emphasis on range, performance and interior space.

Lucid’s primary vehicle is the Lucid Air, a luxury electric sedan. The company has also introduced the Lucid Gravity, an electric SUV designed to expand its presence in the premium sport utility vehicle market.

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