Lucid Group, Inc. (LCID) – What Are Analysts Thinking About This Stock?

Lucid Group, Inc. (NASDAQ:LCID) has received a consensus recommendation of “Reduce” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.67.

Several analysts have issued reports on LCID shares. Zacks Research raised shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Lucid Group in a report on Monday, October 12th. William Blair downgraded shares of Lucid Group to a “market perform” rating in a research note on Monday, August 3rd. Citigroup dropped 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, Royal Bank Of Canada lowered their target price on Lucid Group from $7.00 to $4.00 and set a “sector perform” rating for the company in a research note on Monday, October 12th.

Lucid Group Price Performance

NASDAQ:LCID opened at $3.02 on Friday. The business’s 50-day moving average is $3.97 and its two-hundred day moving average is $6.83. Lucid Group has a 12 month low of $2.37 and a 12 month high of $18.10. The firm has a market capitalization of $1.19 billion, a PE ratio of -0.22 and a beta of 0.80.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($2.78) EPS for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). The company 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 company’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.24) EPS. Equities analysts anticipate that Lucid Group will post -12.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 189,134 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Lucid Group by 11.8% during the first quarter. Bank of New York Mellon Corp now owns 449,196 shares of the company’s stock worth $4,281,000 after buying an additional 47,427 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Lucid Group by 192.6% during the first quarter. Lazard Asset Management LLC now owns 304,737 shares of the company’s stock worth $2,904,000 after buying an additional 200,604 shares in the last quarter. Calamos Advisors LLC increased its stake in shares of Lucid Group by 50.0% in the first quarter. Calamos Advisors LLC now owns 225,000 shares of the company’s stock worth $2,144,000 after buying an additional 75,000 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Lucid Group by 246.0% in the first quarter. Quantinno Capital Management LP now owns 202,651 shares of the company’s stock worth $1,931,000 after buying an additional 144,089 shares during the last quarter. Hedge funds and other institutional investors 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.