Lucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s share price rose 0.6% on Wednesday . The stock traded as high as $3.19 and last traded at $3.11. Approximately 9,462,312 shares were traded during trading, a decline of 70% from the average daily volume of 32,051,689 shares. The stock had previously closed at $3.09.
Wall Street Analyst Weigh In
Several brokerages have recently commented on LCID. Citigroup reissued a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a report on Monday, April 22nd. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, July 8th. Stifel Nicolaus reduced their price target on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald upgraded shares of Lucid Group from an “underweight” rating to a “neutral” rating and set a $4.00 price objective for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.14.
View Our Latest Report on LCID
Lucid Group Stock Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last released its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company 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 441.29% and a negative return on equity of 53.53%. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. As a group, equities analysts anticipate that Lucid Group, Inc. will post -1.17 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Lucid Group
Hedge funds have recently bought and sold shares of the company. Accredited Investors Inc. acquired a new stake in Lucid Group during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC bought a new stake in shares of Lucid Group in the fourth quarter valued at about $28,000. Meeder Advisory Services Inc. acquired a new position in Lucid Group during the 1st quarter worth approximately $29,000. Norden Group LLC acquired a new position in Lucid Group during the first quarter worth $32,000. Finally, Heritage Wealth Advisors boosted its stake in shares of Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after buying an additional 4,000 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.
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.
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