Lucid Group (NASDAQ:LCID – Get Free Report)‘s stock had its “underweight” rating restated by Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $4.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 45.45% from the company’s current price.
Several other equities research analysts have also commented on LCID. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Stifel Nicolaus dropped their target price on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup reiterated a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average target price of $4.24.
Get Our Latest Stock Analysis on LCID
Lucid Group Trading Up 4.2 %
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The business had revenue of $172.74 million for the quarter, compared to the consensus estimate of $173.54 million. During the same period in the previous year, the firm earned ($0.43) EPS. The company’s revenue was up 15.6% on a year-over-year basis. As a group, analysts forecast that Lucid Group will post -1.16 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in Lucid Group during the fourth quarter valued at approximately $28,000. Meeder Advisory Services Inc. purchased a new stake in Lucid Group during the first quarter valued at approximately $29,000. Norden Group LLC purchased a new stake in Lucid Group during the first quarter valued at approximately $32,000. Heritage Wealth Advisors increased its holdings in Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after buying an additional 4,000 shares during the last quarter. Finally, Summit Trail Advisors LLC purchased a new stake in Lucid Group during the first quarter valued at approximately $35,000. 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.
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