Lucid Group, Inc. (NASDAQ:LCID) Given Consensus Recommendation of “Hold” by Analysts

Lucid Group, Inc. (NASDAQ:LCID) has been assigned an average rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $3.04.

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

Lucid Group Stock Performance

Shares of LCID opened at $2.67 on Friday. The company 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 company’s 50 day moving average price is $2.66 and its 200 day moving average price is $3.05. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43.

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

Insider Activity at Lucid Group

In related news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 61.26% of the stock is currently owned by insiders.

Institutional Trading of Lucid Group

A number of large investors have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC boosted its stake in shares of Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Lucid Group during the 2nd quarter valued at about $26,000. Crumly & Associates Inc. acquired a new position in Lucid Group in the third quarter valued at about $38,000. Wedge Capital Management L L P NC acquired a new position in Lucid Group in the fourth quarter valued at about $33,000. Finally, Latko Wealth Management Ltd. bought a new stake in Lucid Group during the third quarter worth about $39,000. 75.17% of the stock is currently owned by institutional investors.

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.