Lucid Group (NASDAQ:LCID – Get Rating)‘s stock had its “buy” rating restated by equities researchers at Citigroup in a research note issued on Thursday, The Fly reports. They presently have a $28.00 price target on the stock.
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Other analysts also recently issued reports about the stock. R. F. Lafferty began coverage on shares of Lucid Group in a research report on Monday. They issued a “buy” rating and a $19.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of Lucid Group in a research report on Wednesday. They set an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of 30.86.
Lucid Group Stock Performance
NASDAQ:LCID opened at 16.63 on Thursday. The company has a quick ratio of 6.75, a current ratio of 7.59 and a debt-to-equity ratio of 0.54. Lucid Group has a fifty-two week low of 13.25 and a fifty-two week high of 57.75. The firm’s 50 day moving average is 17.84 and its two-hundred day moving average is 19.57.
Lucid Group (NASDAQ:LCID – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported -0.33 earnings per share for the quarter, topping the consensus estimate of -0.44 by 0.11. The company had revenue of 97.34 million during the quarter. Lucid Group had a negative net margin of 1,030.53% and a negative return on equity of 34.45%. On average, equities research analysts predict that Lucid Group will post -1.08 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. B. Riley Wealth Management Inc. increased its position in shares of Lucid Group by 66.6% in the second quarter. B. Riley Wealth Management Inc. now owns 15,440 shares of the company’s stock worth $265,000 after acquiring an additional 6,170 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Lucid Group by 17.7% in the second quarter. Royal London Asset Management Ltd. now owns 174,871 shares of the company’s stock worth $3,000,000 after acquiring an additional 26,341 shares in the last quarter. Amundi increased its position in shares of Lucid Group by 5.3% in the second quarter. Amundi now owns 151,346 shares of the company’s stock worth $3,043,000 after acquiring an additional 7,600 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Lucid Group by 284.0% in the second quarter. Verition Fund Management LLC now owns 34,617 shares of the company’s stock worth $594,000 after acquiring an additional 53,432 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Lucid Group by 15.5% during the second quarter. Legal & General Group Plc now owns 2,466,665 shares of the company’s stock valued at $42,328,000 after purchasing an additional 330,727 shares in the last quarter. 70.31% of the stock is owned by hedge funds and other institutional investors.
Lucid Group Company Profile
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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