Lucid Group (NASDAQ:LCID – Get Free Report)‘s stock had its “neutral” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Tuesday, Benzinga reports. They presently have a $4.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 2.56% from the stock’s current price.
Other analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Tuesday, August 6th. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, July 8th. Stifel Nicolaus reduced their target price on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.71.
Check Out Our Latest Research Report on Lucid Group
Lucid Group Trading Down 3.0 %
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The company had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. During the same quarter last year, the business posted ($0.40) EPS. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. Analysts expect that Lucid Group will post -1.27 EPS for the current fiscal year.
Insiders Place Their Bets
In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the transaction, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 61.26% of the stock is owned by company insiders.
Institutional Trading of Lucid Group
A number of hedge funds have recently bought and sold shares of the company. Accredited Investors Inc. purchased a new stake in shares of Lucid Group in the second quarter valued at $27,000. Frank Rimerman Advisors LLC raised its holdings in shares of Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after purchasing an additional 9,250 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Lucid Group during the 4th quarter worth about $28,000. Meeder Advisory Services Inc. purchased a new stake in shares of Lucid Group during the 1st quarter worth about $29,000. Finally, Norden Group LLC acquired a new stake in Lucid Group during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds 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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