Lucid Group (NASDAQ:LCID) Shares Down 0.8%

Lucid Group, Inc. (NASDAQ:LCIDGet Free Report)’s stock price dropped 0.8% during trading on Friday . The stock traded as low as $2.49 and last traded at $2.52. Approximately 5,748,826 shares changed hands during trading, a decline of 81% from the average daily volume of 30,843,926 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

A number of equities analysts have issued reports on LCID shares. Stifel Nicolaus reduced their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, March 25th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Robert W. Baird lowered their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Citigroup reissued a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.24.

Read Our Latest Stock Analysis on Lucid Group

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.12 and a current ratio of 4.66. The company has a fifty day moving average of $2.68 and a two-hundred day moving average of $3.22. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of -1.98 and a beta of 1.06.

Lucid Group (NASDAQ:LCIDGet Free Report) last announced its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The business had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. During the same period in the previous year, the firm posted ($0.43) EPS. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in shares of Lucid Group during the 4th quarter valued at $28,000. Meeder Advisory Services Inc. bought a new stake in shares of Lucid Group during the 1st quarter worth approximately $29,000. Norden Group LLC acquired a new stake in shares of Lucid Group in the 1st quarter valued at $32,000. Heritage Wealth Advisors boosted its stake in Lucid Group by 53.3% in the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after buying an additional 4,000 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in shares of Lucid Group during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

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.

Further Reading

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