Lucid Group (NASDAQ:LCID) Trading Up 0.3%

Lucid Group, Inc. (NASDAQ:LCID)’s share price shot up 0.3% during mid-day trading on Monday . The stock traded as high as $3.49 and last traded at $3.39. 6,288,313 shares changed hands during trading, a decline of 80% from the average session volume of 32,122,014 shares. The stock had previously closed at $3.38.

Wall Street Analyst Weigh In

LCID has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Tuesday, May 7th. Cantor Fitzgerald reissued an “underweight” rating and set a $4.00 target price on shares of Lucid Group in a research report on Monday, July 22nd. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, July 8th. Three research 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 currently has an average rating of “Hold” and an average target price of $4.14.

Lucid Group Trading Up 0.3 %

The business has a 50 day moving average of $2.98 and a 200-day moving average of $2.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.12 and a current ratio of 4.66.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (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 business had revenue of $172.74 million for the quarter, compared to analysts’ expectations of $173.54 million. During the same quarter last year, the business posted ($0.43) earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, research analysts expect that Lucid Group, Inc. will post -1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in shares of Lucid Group during the fourth quarter worth about $28,000. Capital Performance Advisors LLP purchased a new position in shares of Lucid Group in the 4th quarter valued at approximately $43,000. Tyche Wealth Partners LLC acquired a new position in shares of Lucid Group in the fourth quarter valued at approximately $43,000. MGO Private Wealth LLC purchased a new stake in shares of Lucid Group during the fourth quarter worth approximately $43,000. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of Lucid Group during the first quarter worth approximately $29,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.