Lucid Group (NASDAQ:LCID) Posts Earnings Results, Beats Expectations By $0.04 EPS

Lucid Group (NASDAQ:LCID) issued its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.04, Zacks reports. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%.

Lucid Group Stock Down 6.1 %

Shares of NASDAQ LCID traded down $0.17 during mid-day trading on Tuesday, reaching $2.61. The company had a trading volume of 111,480,841 shares, compared to its average volume of 82,690,469. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.43. The stock’s 50 day moving average is $2.99 and its 200-day moving average is $2.97. The stock has a market capitalization of $7.86 billion, a PE ratio of -1.95 and a beta of 0.93.

Analyst Ratings Changes

LCID has been the subject of a number of recent research reports. Benchmark started coverage on Lucid Group in a research report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.50 to $1.13 in a report on Monday. Finally, Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.90.

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.