Weekly Research Analysts’ Ratings Updates for Lucid Group (LCID)

Several analysts have recently updated their ratings and price targets for Lucid Group (NASDAQ: LCID):

• 10/8/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 10/7/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $3.00 price target on the stock.
• 9/30/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 9/23/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 9/12/2024 – Lucid Group had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $3.00 price target on the stock.
• 9/11/2024 – Lucid Group had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 9/9/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 9/3/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 8/19/2024 – Lucid Group had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $4.00 price target on the stock.
• 8/16/2024 – Lucid Group had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $3.00 price target on the stock.

Lucid Group Trading Down 0.6 %

Lucid Group stock opened at $3.38 on Monday. The firm has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $3.10. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of -2.66 and a beta of 1.04. Lucid Group, Inc. has a 52-week low of $2.29 and a 52-week high of $5.38.

Lucid Group (NASDAQ:LCID) last released its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The company had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $190.30 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. Sell-side analysts expect that Lucid Group, Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Lucid Group

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 61.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in Lucid Group in the 2nd quarter worth about $26,000. Accredited Investors Inc. purchased a new position in Lucid Group during the 2nd quarter valued at $27,000. Frank Rimerman Advisors LLC boosted its holdings in Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after acquiring an additional 9,250 shares during the period. Meeder Advisory Services Inc. purchased a new stake in shares of Lucid Group in the 1st quarter worth $29,000. Finally, Norden Group LLC purchased a new stake in shares of Lucid Group during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.