Analysts Set Lucid Group, Inc. (NASDAQ:LCID) Target Price at $21.54

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received an average rating of “Reduce” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.5375.

Several research analysts have recently issued reports on LCID shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Monday. Morgan Stanley downgraded Lucid Group from a “buy” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $10.00 in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lucid Group in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus lowered their price target on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research report on Monday, November 17th.

Lucid Group Stock Down 1.2%

Shares of NASDAQ LCID opened at $12.83 on Tuesday. The firm has a fifty day simple moving average of $16.75 and a two-hundred day simple moving average of $20.55. Lucid Group has a 12 month low of $11.46 and a 12 month high of $36.40. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $4.16 billion, a PE ratio of -1.20 and a beta of 0.86.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($2.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.32) by ($0.33). Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The company had revenue of $336.58 million for the quarter, compared to analysts’ expectations of $378.44 million. During the same quarter in the prior year, the firm earned ($2.76) EPS. Lucid Group’s quarterly revenue was up 68.3% compared to the same quarter last year. Equities analysts expect that Lucid Group will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LCID. Tudor Investment Corp ET AL bought a new stake in Lucid Group in the third quarter worth $1,361,978,000. IFP Advisors Inc raised its position in shares of Lucid Group by 315.0% in the 3rd quarter. IFP Advisors Inc now owns 12,197 shares of the company’s stock worth $290,000 after purchasing an additional 9,258 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Lucid Group in the 3rd quarter worth about $1,229,000. Uber Technologies Inc purchased a new stake in Lucid Group during the 3rd quarter valued at about $326,283,000. Finally, Paloma Partners Management Co bought a new stake in Lucid Group during the 3rd quarter valued at about $1,368,000. Institutional investors own 75.17% of the company’s stock.

About Lucid Group

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.