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

Shares of Lucid Group, Inc. (NASDAQ:LCID) have earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.04.

Several analysts have recently commented on LCID shares. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. Robert W. Baird restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Cfra set a $2.00 price target on Lucid Group in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th.

Insider Transactions at Lucid Group

In other news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the acquisition, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Several hedge funds have recently added to or reduced their stakes in LCID. Point72 Italy S.r.l. acquired a new stake in shares of Lucid Group during the third quarter worth about $3,209,000. Main Management ETF Advisors LLC bought a new stake in Lucid Group during the 3rd quarter worth approximately $863,000. Charles Schwab Investment Management Inc. raised its holdings in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares during the period. CWM LLC boosted its holdings in shares of Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after buying an additional 6,771 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Lucid Group by 2.5% in the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after buying an additional 6,374 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Price Performance

Shares of LCID stock opened at $2.67 on Friday. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43. The stock has a market capitalization of $8.04 billion, a PE ratio of -1.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock’s fifty day moving average is $2.66 and its 200-day moving average is $3.05.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.09). The company had revenue of $200.04 million for the quarter, compared to analyst estimates of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same quarter last year, the company earned ($0.28) EPS. Equities research analysts expect that Lucid Group will post -1.25 EPS for the current fiscal year.

About Lucid Group

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.