Lucid Group (NASDAQ:LCID – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05), Briefing.com reports. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The business had revenue of $172.74 million for the quarter, compared to analyst estimates of $173.54 million. During the same period in the prior year, the business earned ($0.43) EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year.
Lucid Group Stock Performance
Shares of Lucid Group stock opened at $3.05 on Tuesday. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43. The company has a market cap of $7.02 billion, a PE ratio of -2.18 and a beta of 1.04. The company has a 50 day moving average of $2.77 and a 200-day moving average of $3.50. Lucid Group has a 1-year low of $2.29 and a 1-year high of $8.37.
Analyst Upgrades and Downgrades
LCID has been the subject of a number of research reports. Robert W. Baird cut their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Bank of America reduced their price objective on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a 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 note on Monday, March 25th. Stifel Nicolaus dropped their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Monday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.34.
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.
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