Lucid Group (NASDAQ:LCID) Trading 0.4% Higher

Lucid Group, Inc. (NASDAQ:LCID) traded up 0.4% during trading on Tuesday . The company traded as high as $2.73 and last traded at $2.65. 7,400,476 shares traded hands during trading, a decline of 75% from the average session volume of 29,735,807 shares. The stock had previously closed at $2.64.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Tuesday, May 7th. Morgan Stanley reissued an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, March 25th. Stifel Nicolaus lowered their target price on Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Citigroup reaffirmed a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a report on Monday, April 22nd. Finally, Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $4.00 target price on shares of Lucid Group in a report on Monday. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.24.

Lucid Group Price Performance

The stock has a 50-day simple moving average of $2.70 and a 200 day simple moving average of $3.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.12 and a current ratio of 4.66. The company has a market cap of $6.21 billion, a P/E ratio of -2.09 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. During the same quarter in the prior year, the business posted ($0.43) EPS. Lucid Group’s revenue was up 15.6% compared to the same quarter last year. On average, equities analysts expect that Lucid Group, Inc. will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Lucid Group

Several hedge funds and other institutional investors have recently modified their holdings of LCID. Northern Trust Corp lifted its position in shares of Lucid Group by 13.8% during the 3rd quarter. Northern Trust Corp now owns 5,203,969 shares of the company’s stock worth $29,090,000 after buying an additional 631,728 shares during the period. Teza Capital Management LLC bought a new position in shares of Lucid Group during the 3rd quarter worth approximately $87,000. Insigneo Advisory Services LLC bought a new position in shares of Lucid Group during the 3rd quarter worth approximately $84,000. AXQ Capital LP lifted its position in shares of Lucid Group by 181.6% during the 3rd quarter. AXQ Capital LP now owns 32,100 shares of the company’s stock worth $179,000 after buying an additional 20,700 shares during the period. Finally, Alps Advisors Inc. increased its holdings in Lucid Group by 19.8% during the 3rd quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company’s stock valued at $18,453,000 after purchasing an additional 546,676 shares in the last quarter. Institutional investors 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.