Lucid Group (NASDAQ:LCID) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Lucid Group (NASDAQ:LCID) issued its quarterly earnings data on Monday. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05), Briefing.com reports. The firm had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS.

Lucid Group Trading Down 0.7 %

NASDAQ LCID traded down $0.02 during trading hours on Thursday, hitting $2.69. 6,410,873 shares of the company were exchanged, compared to its average volume of 32,804,461. The stock has a 50-day moving average price of $2.75 and a 200 day moving average price of $3.47. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43. Lucid Group has a 52 week low of $2.29 and a 52 week high of $8.37. The stock has a market cap of $6.19 billion, a PE ratio of -1.93 and a beta of 1.04.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LCID. Bank of America lowered their target price on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, March 25th. Robert W. Baird lowered their target price on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Tuesday. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.24.

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.