Lucid Group (NASDAQ:LCID) Rating Reiterated by Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report released on Monday, Benzinga reports. Robert W. Baird currently has a $3.00 price target on the stock.

A number of other brokerages have also recently issued reports on LCID. Cantor Fitzgerald reissued a neutral rating and set a $4.00 target price on shares of Lucid Group in a report on Monday, September 30th. Needham & Company LLC reiterated a hold rating on shares of Lucid Group in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada restated a sector perform rating and set a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, Lucid Group presently has a consensus rating of Hold and a consensus price target of $3.71.

Lucid Group Stock Down 1.8 %

Shares of NASDAQ:LCID opened at $3.33 on Monday. The business has a fifty day simple moving average of $3.53 and a 200 day simple moving average of $3.09. Lucid Group has a 12-month low of $2.29 and a 12-month high of $5.48. 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 cap of $7.68 billion, a P/E ratio of -2.62 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last released its quarterly 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 net margin of 390.39% and a negative return on equity of 55.35%. The company had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. During the same quarter last year, the firm posted ($0.40) EPS. Lucid Group’s revenue for the quarter was up 32.9% on a year-over-year basis. Analysts predict that Lucid Group will post -1.27 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lucid Group

Several large investors have recently modified their holdings of the business. Wedmont Private Capital raised its holdings in shares of Lucid Group by 128.2% in the 3rd quarter. Wedmont Private Capital now owns 64,013 shares of the company’s stock valued at $219,000 after purchasing an additional 35,962 shares in the last quarter. CWM LLC raised its holdings in shares of Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after purchasing an additional 6,771 shares in the last quarter. Clean Yield Group bought a new position in shares of Lucid Group during the 3rd quarter worth approximately $43,000. Diversified Trust Co purchased a new stake in Lucid Group during the third quarter valued at approximately $48,000. Finally, Azzad Asset Management Inc. ADV acquired a new stake in Lucid Group in the third quarter valued at approximately $167,000. Institutional investors own 75.17% of the company’s stock.

About Lucid Group

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.