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

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

Lucid Group Stock Performance

Shares of NASDAQ:LCID traded down $0.17 during trading on Tuesday, reaching $2.61. 111,480,841 shares of the company’s stock traded hands, compared to its average volume of 82,690,469. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a 50 day moving average of $2.99 and a 200-day moving average of $2.97. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The stock has a market capitalization of $7.86 billion, a P/E ratio of -1.95 and a beta of 0.93.

Analyst Ratings Changes

LCID has been the topic of a number of analyst reports. Royal Bank of Canada dropped their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $3.50 to $1.13 in a report on Monday. Finally, Benchmark began coverage on shares of Lucid Group in a report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Lucid Group currently has a consensus 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.