Lucid Group’s (LCID) “Neutral” Rating Reaffirmed at Citigroup

Citigroup reissued their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has a $2.90 price objective on the stock.

LCID has been the subject of a number of other research reports. Morgan Stanley reaffirmed an underweight rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Robert W. Baird lowered their price target on shares of Lucid Group from $6.00 to $4.00 and set a neutral rating for the company in a report on Thursday, February 22nd. Cantor Fitzgerald downgraded shares of Lucid Group from a neutral rating to an underweight rating and lowered their price target for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Bank of America lowered their price target on shares of Lucid Group from $7.00 to $4.50 and set a neutral rating for the company in a report on Thursday, February 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Lucid Group from $5.00 to $4.00 and set a hold rating for the company in a report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $4.34.

Lucid Group Stock Down 2.9 %

LCID opened at $2.38 on Monday. The firm has a 50-day simple moving average of $2.93 and a two-hundred day simple moving average of $3.66. Lucid Group has a 52 week low of $2.31 and a 52 week high of $8.37. The company has a market capitalization of $5.47 billion, a PE ratio of -1.70 and a beta of 1.01. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The company had revenue of $157.20 million for the quarter, compared to the consensus estimate of $179.88 million. During the same period last year, the company earned ($0.40) EPS. The firm’s revenue for the quarter was down 39.0% on a year-over-year basis. Analysts forecast that Lucid Group will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd increased its position in shares of Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after acquiring an additional 3,700 shares during the period. GAMMA Investing LLC purchased a new position in shares of Lucid Group during the fourth quarter worth approximately $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Lucid Group during the third quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. increased its position in shares of Lucid Group by 309.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,468 shares of the company’s stock worth $47,000 after acquiring an additional 6,398 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Lucid Group during the fourth quarter worth approximately $43,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.