Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) shares were up 4.8% during mid-day trading on Tuesday . The stock traded as high as $3.05 and last traded at $3.04. Approximately 8,660,999 shares changed hands during trading, a decline of 73% from the average daily volume of 32,129,352 shares. The stock had previously closed at $2.90.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on LCID shares. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Tuesday, August 6th. Citigroup reissued a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, July 8th. Cantor Fitzgerald upgraded shares of Lucid Group from an “underweight” rating to a “neutral” rating and set a $4.00 price objective for the company in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus cut their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.04.
Get Our Latest Stock Report on Lucid Group
Lucid Group Stock Up 5.9 %
Lucid Group (NASDAQ:LCID – Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm 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 business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) earnings per share. As a group, analysts predict that Lucid Group, Inc. will post -1.17 EPS for the current year.
Hedge Funds Weigh In On Lucid Group
Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in Lucid Group by 131.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after acquiring an additional 238,628 shares in the last quarter. XTX Topco Ltd purchased a new position in Lucid Group during the 2nd quarter valued at about $69,000. Vanguard Personalized Indexing Management LLC increased its holdings in Lucid Group by 40.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 195,661 shares of the company’s stock valued at $511,000 after acquiring an additional 56,594 shares in the last quarter. Amalgamated Bank increased its holdings in Lucid Group by 12.5% during the 2nd quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock valued at $125,000 after acquiring an additional 5,337 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Lucid Group by 111.0% during the 2nd quarter. Meeder Advisory Services Inc. now owns 21,737 shares of the company’s stock valued at $57,000 after acquiring an additional 11,433 shares in the last quarter. Hedge funds and other 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.
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