Lucid Group (NASDAQ:LCID) Rating Reiterated by Citigroup

Citigroup reissued their buy rating on shares of Lucid Group (NASDAQ:LCIDGet Rating) in a research note published on Thursday, The Fly reports. They currently have a $28.00 price objective on the stock.

LCID has been the subject of a number of other reports. Needham & Company LLC assumed coverage on shares of Lucid Group in a research note on Wednesday. They issued an underperform rating for the company. R. F. Lafferty initiated coverage on shares of Lucid Group in a research report on Monday. They set a buy rating and a $19.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lucid Group currently has a consensus rating of Hold and an average target price of 30.86.

Lucid Group Price Performance

Shares of NASDAQ:LCID opened at 16.49 on Thursday. The stock has a market capitalization of $27.58 billion, a P/E ratio of -11.37 and a beta of 0.57. The business has a 50-day moving average of 17.77 and a two-hundred day moving average of 19.48. Lucid Group has a fifty-two week low of 13.25 and a fifty-two week high of 57.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 7.59 and a quick ratio of 6.75.

Lucid Group (NASDAQ:LCIDGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported -0.33 earnings per share for the quarter, beating analysts’ consensus estimates of -0.44 by 0.11. The business had revenue of 97.34 million for the quarter. Lucid Group had a negative return on equity of 34.45% and a negative net margin of 1,030.53%. On average, equities research analysts predict that Lucid Group will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nauset Wealth Management. LLC acquired a new stake in Lucid Group in the 1st quarter worth $25,000. 1832 Asset Management L.P. acquired a new stake in Lucid Group during the first quarter worth about $25,000. IronBridge Private Wealth LLC bought a new position in Lucid Group during the fourth quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in Lucid Group in the 1st quarter valued at approximately $29,000. Finally, First Manhattan Co. raised its holdings in Lucid Group by 666.7% in the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock valued at $29,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 70.31% of the company’s stock.

About Lucid Group

(Get Rating)

Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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