Lucid Group (NASDAQ:LCID – Get Free Report)‘s stock had its “underweight” rating reissued by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $4.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 50.94% from the company’s previous close.
A number of other equities analysts also recently issued reports on the company. Citigroup restated a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Finally, Stifel Nicolaus reduced their target price on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.24.
View Our Latest Report on Lucid Group
Lucid Group Stock Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The company had revenue of $172.74 million for the quarter, compared to analysts’ expectations of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) earnings per share. As a group, sell-side analysts expect that Lucid Group will post -1.16 EPS for the current fiscal year.
Hedge Funds Weigh In On Lucid Group
A number of hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in Lucid Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after acquiring an additional 3,230 shares during the last quarter. Heritage Wealth Advisors increased its holdings in shares of Lucid Group by 53.3% in the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after purchasing an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of Lucid Group by 24.6% in the fourth quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock worth $89,000 after buying an additional 4,170 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Lucid Group by 5.5% during the first quarter. First Trust Direct Indexing L.P. now owns 82,922 shares of the company’s stock valued at $236,000 after buying an additional 4,350 shares during the last quarter. Finally, Capital Square LLC grew its holdings in Lucid Group by 34.7% during the 4th quarter. Capital Square LLC now owns 18,615 shares of the company’s stock valued at $78,000 after buying an additional 4,800 shares in the last quarter. Institutional investors 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.
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