Lucid Group (NASDAQ:LCID) Announces Quarterly Earnings Results

Lucid Group (NASDAQ:LCID) issued its quarterly earnings data on Monday. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02), Briefing.com reports. The business had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) earnings per share.

Lucid Group Price Performance

NASDAQ:LCID opened at $2.91 on Thursday. Lucid Group has a 52 week low of $2.29 and a 52 week high of $7.30. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.71 billion, a P/E ratio of -2.29 and a beta of 1.04. The stock’s fifty day moving average is $3.03 and its two-hundred day moving average is $2.96.

Wall Street Analyst Weigh In

LCID has been the topic of several research reports. Cantor Fitzgerald upgraded Lucid Group from an “underweight” rating to a “neutral” rating and set a $4.00 target price on the stock in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Tuesday. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, July 8th. Citigroup reiterated a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, Lucid Group presently has an average rating of “Hold” and a consensus target price of $4.14.

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.