Lucid Group, Inc. (NASDAQ:LCID) Receives $9.22 Average Target Price from Brokerages

Shares of Lucid Group, Inc. (NASDAQ:LCID) have earned an average recommendation of “Reduce” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.2222.

A number of research analysts have recently commented on LCID shares. William Blair downgraded Lucid Group to a “market perform” rating in a report on Monday, August 3rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $7.00 target price (down from $8.00) on shares of Lucid Group in a research report on Monday, July 13th. Citigroup decreased their target price on Lucid Group from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th.

More Lucid Group News

Here are the key news stories impacting Lucid Group this week:

• Neutral Sentiment: Lucid announced a transition agreement with former Chief Financial Officer Sherry House, who will move into an advisory role. The arrangement may provide some continuity during the CFO change, but the leadership transition adds uncertainty as the company works to improve cash management and scale deliveries. Lucid Group Announces CFO Transition and Advisory Role
• Neutral Sentiment: Reports on short interest were inconsistent: one filing-based report showed zero reported short interest and zero days to cover, while another article described substantial short bets and changing institutional positions. Investors should treat the conflicting data cautiously rather than viewing it as a clear trading catalyst. What’s Going On With Lucid Group Stock?
• Negative Sentiment: Lucid fell more than the broader market in the latest reported session, reflecting continued pressure on the EV maker and limited evidence that improving revenue growth is translating into better earnings. Why Lucid Group Dipped More Than the Broader Market
• Negative Sentiment: LCID has fallen below $5, placing it in penny-stock territory. Commentary argues that the risk-reward profile remains unattractive because of Lucid’s persistent losses, financing needs and uncertain path to profitability. Lucid Is a Penny Stock Again, But LCID Is Not a Tempting Buy Yet
• Negative Sentiment: Analysts have reached a consensus “Reduce” rating, reinforcing concerns about Lucid’s high cash burn, weak profitability and execution risk. Lucid Receives Consensus Reduce Rating

Lucid Group Stock Performance

Shares of LCID stock opened at $4.22 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.57 and a debt-to-equity ratio of 3.00. The firm has a fifty day moving average price of $6.00 and a 200 day moving average price of $6.98. The company has a market cap of $1.66 billion, a P/E ratio of -0.31 and a beta of 0.81. Lucid Group has a 12 month low of $2.37 and a 12 month high of $25.23.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). The business had revenue of $405.35 million during the quarter, compared to analyst estimates of $381.59 million. Lucid Group had a negative net margin of 249.21% and a negative return on equity of 1,391.51%. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) earnings per share. Sell-side analysts predict that Lucid Group will post -12.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jain Global LLC raised its stake in Lucid Group by 13.3% in the 4th quarter. Jain Global LLC now owns 10,220 shares of the company’s stock valued at $108,000 after purchasing an additional 1,200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Lucid Group by 3.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,146 shares of the company’s stock worth $393,000 after purchasing an additional 1,336 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Lucid Group by 11.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,590 shares of the company’s stock worth $144,000 after purchasing an additional 1,430 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Lucid Group by 18.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 16,354 shares of the company’s stock worth $173,000 after buying an additional 2,498 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lucid Group by 6.8% during the first quarter. The Manufacturers Life Insurance Company now owns 39,666 shares of the company’s stock worth $378,000 after buying an additional 2,520 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

About Lucid Group

Lucid Group, Inc is an electric vehicle (EV) manufacturer that develops, engineers and produces luxury electric cars and SUVs. The company’s operations include vehicle design, battery systems, electric powertrains, software and charging technologies, with an emphasis on range, performance and interior space.

Lucid’s primary vehicle is the Lucid Air, a luxury electric sedan. The company has also introduced the Lucid Gravity, an electric SUV designed to expand its presence in the premium sport utility vehicle market.