Lucid Group (NASDAQ:LCID – Get Free Report) issued its earnings results on Monday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05), Briefing.com reports. The firm had revenue of $172.74 million for the quarter, compared to analysts’ expectations of $173.54 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) EPS.
Lucid Group Price Performance
Shares of LCID stock opened at $2.78 on Tuesday. The firm has a fifty day moving average of $2.77 and a two-hundred day moving average of $3.50. The firm has a market cap of $6.39 billion, a P/E ratio of -2.18 and a beta of 1.04. Lucid Group has a 1-year low of $2.29 and a 1-year high of $8.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on LCID shares. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Tuesday. Stifel Nicolaus cut their price objective on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Robert W. Baird decreased their target price on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Finally, Citigroup restated a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.34.
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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