Cantor Fitzgerald reiterated their underweight rating on shares of Lucid Group (NASDAQ:LCID – Free Report) in a report published on Monday morning, Benzinga reports. They currently have a $4.00 price objective on the stock.
A number of other research analysts have also weighed in on LCID. Stifel Nicolaus decreased their price objective on Lucid Group from $4.00 to $3.00 and set a hold rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC reissued a hold rating on shares of Lucid Group in a research note on Tuesday, May 7th. Morgan Stanley reaffirmed an underweight rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Citigroup reissued a neutral rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Finally, Robert W. Baird restated a neutral rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, July 8th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $4.14.
Read Our Latest Research Report on LCID
Lucid Group Stock Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.43) earnings per share. On average, equities analysts forecast that Lucid Group will post -1.16 earnings per share for the current year.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Lucid Group during the fourth quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new stake in Lucid Group in the 4th quarter valued at approximately $43,000. Tyche Wealth Partners LLC purchased a new stake in Lucid Group in the fourth quarter valued at approximately $43,000. MGO Private Wealth LLC acquired a new position in Lucid Group during the fourth quarter worth $43,000. Finally, Meeder Advisory Services Inc. purchased a new position in shares of Lucid Group during the first quarter worth $29,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.
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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