Lucid Group (NASDAQ:LCID) Issues Earnings Results

Lucid Group (NASDAQ:LCID) released its earnings results on Tuesday. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.04, Zacks reports. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%.

Lucid Group Price Performance

Shares of Lucid Group stock traded down $0.17 on Tuesday, reaching $2.61. The stock had a trading volume of 111,683,024 shares, compared to its average volume of 82,735,258. The business’s 50 day moving average is $2.99 and its two-hundred day moving average is $2.97. The company has a market cap of $7.86 billion, a P/E ratio of -1.95 and a beta of 0.93. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark assumed coverage on Lucid Group in a report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada decreased their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $3.50 to $1.13 in a report on Monday. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lucid Group has an average rating of “Hold” and a consensus price target of $2.90.

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.