Stifel Nicolaus Cuts Lucid Group (NASDAQ:LCID) Price Target to $3.00

Lucid Group (NASDAQ:LCIDFree Report) had its price objective decreased by Stifel Nicolaus from $4.00 to $3.00 in a report published on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research analysts have also recently weighed in on the company. Bank of America lowered their price objective on Lucid Group from $7.00 to $4.50 and set a neutral rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley reiterated an underweight rating and issued 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 price objective on shares of Lucid Group in a report on Monday, April 22nd. Cantor Fitzgerald cut shares of Lucid Group from a neutral rating to an underweight rating and lowered their target price for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a hold rating on shares of Lucid Group in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Lucid Group presently has an average rating of Hold and a consensus target price of $4.24.

Get Our Latest Stock Report on LCID

Lucid Group Price Performance

Shares of LCID opened at $2.66 on Wednesday. The company’s 50-day moving average is $2.72 and its 200-day moving average is $3.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.03. The firm has a market capitalization of $6.12 billion, a PE ratio of -2.09 and a beta of 1.04. Lucid Group has a fifty-two week low of $2.29 and a fifty-two week high of $8.37.

Lucid Group (NASDAQ:LCIDGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The company 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 quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) EPS. Equities analysts forecast that Lucid Group will post -1.13 EPS for the current year.

Institutional Investors Weigh In On Lucid Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Lucid Group by 12.4% during the fourth quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after purchasing an additional 9,175,312 shares in the last quarter. Norges Bank acquired a new stake in Lucid Group during the 4th quarter worth approximately $22,208,000. Hsbc Holdings PLC grew its holdings in Lucid Group by 496.8% during the 4th quarter. Hsbc Holdings PLC now owns 2,283,294 shares of the company’s stock worth $9,587,000 after acquiring an additional 1,900,730 shares during the last quarter. Invesco Ltd. increased its position in Lucid Group by 41.8% in the 3rd quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock valued at $33,466,000 after acquiring an additional 1,763,443 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Lucid Group during the third quarter valued at $6,230,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lucid Group (NASDAQ:LCID)

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