Lucid Group (NASDAQ:LCID) Given “Neutral” Rating at Citigroup

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reiterated by stock analysts at Citigroup in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $2.90 target price on the stock. Citigroup’s price objective would suggest a potential upside of 21.85% from the company’s previous close.

Several other analysts have also recently weighed in on LCID. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Robert W. Baird lowered their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Stifel Nicolaus cut their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Bank of America dropped their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Finally, Cantor Fitzgerald cut shares of Lucid Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $6.00 to $4.00 in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and an average price target of $4.34.

Lucid Group Price Performance

LCID stock opened at $2.38 on Monday. Lucid Group has a 52-week low of $2.35 and a 52-week high of $8.37. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -1.71 and a beta of 1.01. The business has a fifty day moving average of $2.96 and a two-hundred day moving average of $3.68.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The company had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) EPS. As a group, research analysts anticipate that Lucid Group will post -1.06 earnings per share for the current year.

Institutional Trading of Lucid Group

A number of institutional investors have recently bought and sold shares of LCID. Mariner LLC raised its holdings in shares of Lucid Group by 6.9% during the 1st quarter. Mariner LLC now owns 15,231 shares of the company’s stock valued at $387,000 after purchasing an additional 987 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Lucid Group in the 1st quarter valued at approximately $25,000. First Manhattan Co. boosted its stake in Lucid Group by 666.7% during the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock valued at $29,000 after purchasing an additional 1,000 shares during the period. Moors & Cabot Inc. raised its position in Lucid Group by 9.6% in the first quarter. Moors & Cabot Inc. now owns 15,971 shares of the company’s stock worth $406,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in Lucid Group by 2.3% during the 4th quarter. Vident Investment Advisory LLC now owns 75,195 shares of the company’s stock valued at $514,000 after purchasing an additional 1,686 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.