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

Lucid Group, Inc. (NASDAQ:LCID) has received a consensus rating of “Reduce” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.22.

A number of equities research analysts have issued reports on LCID shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a report on Monday, September 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $7.00 price target (down from $8.00) on shares of Lucid Group in a research note on Monday, July 13th. Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Citigroup cut their price objective on Lucid Group from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. Finally, William Blair cut Lucid Group to a “market perform” rating in a research note on Monday, August 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LCID. Bank of America Corp DE raised its position in Lucid Group by 10.9% in 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 purchasing an additional 189,134 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lucid Group in the 2nd quarter valued at about $3,125,000. Lazard Asset Management LLC boosted its stake in shares of 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 buying an additional 200,604 shares during the period. Quantinno Capital Management LP grew its position in shares of 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 buying an additional 144,089 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Lucid Group during the fourth quarter worth about $1,355,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of LCID opened at $3.79 on Monday. The company’s 50-day simple moving average is $5.01 and its 200-day simple moving average is $6.11. Lucid Group has a 1 year low of $2.37 and a 1 year high of $22.42. The stock has a market capitalization of $1.49 billion, a PE ratio of -0.28 and a beta of 1.00.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). Lucid Group had a negative net margin of 249.21% and a negative return on equity of 1,391.51%. The business had revenue of $405.35 million during the quarter, compared to analyst estimates of $381.59 million. During the same quarter last year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, sell-side analysts predict that Lucid Group will post -12.15 earnings per share for the current year.

About Lucid Group

Lucid Group, Inc is an electric vehicle company headquartered in Newark, California. Through its Lucid Motors subsidiary, the company designs, engineers and manufactures luxury electric vehicles, with a focus on long range, performance, efficiency and advanced in-vehicle technology.

Lucid’s product lineup includes the Lucid Air, a premium electric sedan, and the Lucid Gravity, an electric SUV. The company also develops electric powertrain systems, battery technology and related vehicle software.