Lucid Group, Inc. (NASDAQ:LCID) Receives Average Rating of “Reduce” from Analysts

Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) has been assigned an average recommendation of “Reduce” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.55.

Several equities research analysts recently weighed in on LCID shares. R. F. Lafferty cut shares of Lucid Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $10.00 to $5.00 in a research note on Wednesday, November 8th. Citigroup reduced their target price on shares of Lucid Group from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of Lucid Group in a research note on Tuesday, September 19th. Morgan Stanley cut their price target on shares of Lucid Group from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 9th. Finally, BNP Paribas cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $6.50 to $5.00 in a research note on Friday, August 11th.

Read Our Latest Stock Analysis on LCID

Insider Transactions at Lucid Group

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In related news, SVP Michael Bell sold 46,735 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $6.01, for a total value of $280,877.35. Following the completion of the sale, the senior vice president now owns 1,437,293 shares of the company’s stock, valued at $8,638,130.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 62.50% of the company’s stock.

Institutional Trading of Lucid Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 1832 Asset Management L.P. acquired a new stake in Lucid Group during the 1st quarter worth $25,000. First Manhattan Co. grew its holdings in Lucid Group by 666.7% during the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after acquiring an additional 1,000 shares during the period. Twin Tree Management LP acquired a new stake in Lucid Group during the 1st quarter worth $35,000. Quent Capital LLC grew its holdings in Lucid Group by 184.6% during the 3rd quarter. Quent Capital LLC now owns 4,482 shares of the company’s stock worth $25,000 after acquiring an additional 2,907 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its holdings in Lucid Group by 103.3% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,789 shares of the company’s stock worth $38,000 after acquiring an additional 2,433 shares during the period.

Lucid Group Stock Up 1.0 %

LCID stock opened at $4.24 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.19 and a quick ratio of 4.42. Lucid Group has a 52-week low of $3.62 and a 52-week high of $17.81. The company has a 50-day moving average of $4.69 and a two-hundred day moving average of $6.01. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of -3.05 and a beta of 1.17.

Lucid Group (NASDAQ:LCID – Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Lucid Group had a negative net margin of 380.45% and a negative return on equity of 58.91%. The firm had revenue of $137.81 million for the quarter, compared to the consensus estimate of $185.10 million. During the same quarter last year, the company earned ($0.40) earnings per share. The firm’s revenue was down 29.5% on a year-over-year basis. As a group, equities research analysts anticipate that Lucid Group will post -1.39 EPS for the current year.

Lucid Group Company Profile

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Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.