Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) has earned an average rating of “Reduce” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.67.
LCID has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Lucid Group from $5.00 to $3.00 and set an “underweight” rating on the stock in a research report on Thursday, October 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a research report on Monday, September 21st. Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Citigroup reduced their price target on shares of Lucid Group from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Finally, UBS Group restated a “hold” rating on shares of Lucid Group in a report on Tuesday, October 6th.
Check Out Our Latest Stock Analysis on LCID
Lucid Group Trading Down 11.6%
NASDAQ LCID opened at $2.98 on Friday. The stock has a market cap of $1.17 billion, a PE ratio of -0.22 and a beta of 0.80. Lucid Group has a twelve month low of $2.37 and a twelve month high of $18.10. The stock has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $6.76.
Lucid Group (NASDAQ:LCID – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). The business had revenue of $405.35 million for the quarter, compared to analyst estimates of $381.59 million. Lucid Group had a negative return on equity of 1,391.51% and a negative net margin of 249.21%. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.24) earnings per share. Research analysts predict that Lucid Group will post -12.15 EPS for the current year.
Institutional Trading of Lucid Group
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings 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 acquiring 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 valued at $4,281,000 after acquiring an additional 47,427 shares in 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 valued at $2,904,000 after acquiring an additional 200,604 shares in the last quarter. Calamos Advisors LLC increased its stake in Lucid Group by 50.0% during the first quarter. Calamos Advisors LLC now owns 225,000 shares of the company’s stock worth $2,144,000 after purchasing an additional 75,000 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Lucid Group by 246.0% during the first quarter. Quantinno Capital Management LP now owns 202,651 shares of the company’s stock worth $1,931,000 after purchasing an additional 144,089 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.
About Lucid Group
Lucid Group, Inc is an electric vehicle and technology company headquartered in Newark, California. Through its Lucid Motors subsidiary, the company designs, engineers, and manufactures premium electric vehicles, with an emphasis on range, energy efficiency, performance, and advanced in-car technology.
Lucid’s vehicle lineup includes the Lucid Air luxury electric sedan and the Lucid Gravity electric SUV. The company also develops electric powertrains, battery systems, software, and other technologies for its vehicles.
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