Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) shares traded down 5.1% during trading on Thursday . The company traded as low as $2.40 and last traded at $2.42. 4,843,329 shares traded hands during trading, a decline of 86% from the average session volume of 33,895,422 shares. The stock had previously closed at $2.55.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Stifel Nicolaus lowered their price objective on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Bank of America decreased their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, March 25th. Citigroup reissued a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Finally, Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and decreased their price target for the stock 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 stock. According to data from MarketBeat.com, Lucid Group currently has an average rating of “Hold” and a consensus price target of $4.34.
View Our Latest Report on Lucid Group
Lucid Group Stock Up 0.4 %
Lucid Group (NASDAQ:LCID – Get Free Report) last issued its quarterly earnings results 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). Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The business had revenue of $157.20 million during the quarter, compared to analyst estimates of $179.88 million. During the same period in the previous year, the company posted ($0.40) earnings per share. Lucid Group’s revenue was down 39.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Lucid Group, Inc. will post -1.06 EPS for the current year.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors and hedge funds have recently bought and sold shares of LCID. GAMMA Investing LLC acquired a new stake in Lucid Group in the 4th quarter valued at about $28,000. Norden Group LLC purchased a new stake in Lucid Group during the first quarter valued at about $32,000. Summit Trail Advisors LLC purchased a new stake in Lucid Group during the first quarter valued at about $35,000. UniSuper Management Pty Ltd lifted its stake in Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after buying an additional 3,700 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Lucid Group during the third quarter valued at about $38,000. 75.17% of the stock is owned by institutional investors and hedge funds.
About Lucid Group
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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