Lucid Group (NASDAQ:LCID) Announces Earnings Results

Lucid Group (NASDAQ:LCID - Get Free Report) released its earnings results on Tuesday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01), Zacks reports. The firm had revenue of $235.05 million during the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. Lucid Group's quarterly revenue was up 36.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.27) earnings per share.Lucid Group Stock Down 1.5 %Shares of NASDAQ LCID opened at $2.33 on Wednesday. The company has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $2.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The firm has a market cap of $7.05 billion, a PE ratio of -1.74 and a beta of 0.88. Analyst Ratings ChangesA number of research analysts recently issued reports on LCID shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Thursday, April 3rd. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and decreased their price target for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Robert W. Baird upped their price objective on Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Benchmark reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Finally, Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lucid Group currently has an average rating of "Hold" and an average price target of $2.68.Get Our Latest Report on LCIDLucid Group Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than Lucid GroupBest Energy Stocks - Energy Stocks to Buy NowBroadcom Stock Gets a Lift on Hyperscaler Earnings & CapEx BoostEV Stocks and How to Profit from Them Ford Motor Stock Rises After Earnings, But Momentum May Not Last What is Forex and How Does it Work? Lemonade Delivers Sweet Results, Price Reversal to AccelerateShould You Invest $1,000 in Lucid Group Right Now?Before you consider Lucid Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lucid Group wasn't on the list.While Lucid Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here