Lucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s stock price traded up 1.7% during mid-day trading on Thursday . The company traded as high as $2.48 and last traded at $2.46. 5,782,416 shares were traded during trading, a decline of 83% from the average session volume of 34,779,395 shares. The stock had previously closed at $2.42.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Bank of America cut their price objective on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, March 25th. Stifel Nicolaus dropped their target price on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Finally, Robert W. Baird dropped their target price on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and an average target price of $4.80.
Check Out Our Latest Report on LCID
Lucid Group Stock Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The company had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. During the same period in the prior year, the firm posted ($0.40) earnings per share. The business’s quarterly revenue was down 39.0% compared to the same quarter last year. On average, analysts forecast that Lucid Group, Inc. will post -1.06 EPS for the current year.
Institutional Investors Weigh In On Lucid Group
Several institutional investors have recently added to or reduced their stakes in LCID. 1832 Asset Management L.P. purchased a new stake in Lucid Group during the first quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Lucid Group during the fourth quarter worth approximately $28,000. First Manhattan Co. lifted its stake in Lucid Group by 666.7% during the first quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in Lucid Group by 283.3% during the second quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock worth $34,000 after purchasing an additional 3,671 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after purchasing an additional 3,700 shares during the last quarter. 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.
Recommended Stories
- Five stocks we like better than Lucid Group
- Investing In Automotive Stocks
- Comprehensive PepsiCo Stock Analysis
- When to Sell a Stock for Profit or Loss
- CSX Co.: The Railroad Powering Ahead with an Earnings Beat
- What is a Low P/E Ratio and What Does it Tell Investors?
- Bear Market Funds to Watch This Year
Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.