Lucid Group, Inc. (NASDAQ:LCID) Receives $3.71 Average Price Target from Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCID) have earned an average recommendation of “Reduce” from the nine research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.71.

A number of equities analysts have commented on LCID shares. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research note on Monday, September 9th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, July 8th.

Lucid Group Price Performance

Shares of Lucid Group stock opened at $3.78 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. The firm’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.03. Lucid Group has a twelve month low of $2.29 and a twelve month high of $5.90. The firm has a market cap of $8.72 billion, a P/E ratio of -2.98 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The firm had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. Lucid Group’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) earnings per share. As a group, research analysts expect that Lucid Group will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 61.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently modified their holdings of LCID. Sanctuary Advisors LLC acquired a new position in Lucid Group during the second quarter valued at approximately $26,000. Accredited Investors Inc. acquired a new position in Lucid Group during the second quarter valued at approximately $27,000. Frank Rimerman Advisors LLC grew its holdings in Lucid Group by 925.0% during the second 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 during the period. Meeder Advisory Services Inc. acquired a new position in Lucid Group during the first quarter valued at approximately $29,000. Finally, Norden Group LLC acquired a new position in Lucid Group during the first quarter valued at approximately $32,000. 75.17% of the stock is owned by institutional investors.

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.