Lucid Group (NASDAQ:LCID) Trading 3% Higher

Lucid Group, Inc. (NASDAQ:LCIDGet Free Report) traded up 3% during mid-day trading on Wednesday . The company traded as high as $2.76 and last traded at $2.74. 5,943,164 shares changed hands during trading, a decline of 81% from the average session volume of 30,977,168 shares. The stock had previously closed at $2.66.

Analyst Ratings Changes

LCID has been the topic of several analyst reports. Bank of America cut their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Stifel Nicolaus lowered their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Cantor Fitzgerald lowered shares of Lucid Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $6.00 to $4.00 in a research report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Tuesday, May 7th. Finally, Robert W. Baird lowered their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.24.

View Our Latest Stock Report on LCID

Lucid Group Stock Down 0.8 %

The company has a market cap of $5.81 billion, a PE ratio of -1.98 and a beta of 1.06. The stock’s 50 day moving average price is $2.68 and its 200-day moving average price is $3.22. 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:LCIDGet Free Report) last announced its quarterly earnings data 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 net margin of 441.29% and a negative return on equity of 53.53%. The business had revenue of $172.74 million during the quarter, compared to analysts’ expectations of $173.54 million. During the same period last year, the company posted ($0.43) EPS. Lucid Group’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts predict that Lucid Group, Inc. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its holdings in Lucid Group by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after buying an additional 3,230 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in Lucid Group by 127.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after buying an additional 3,700 shares during the last quarter. New York Life Investment Management LLC raised its holdings in Lucid Group by 23.1% during the 3rd quarter. New York Life Investment Management LLC now owns 20,583 shares of the company’s stock valued at $115,000 after buying an additional 3,858 shares during the last quarter. Heritage Wealth Advisors raised its holdings in Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after buying an additional 4,000 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Lucid Group by 24.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock valued at $89,000 after buying an additional 4,170 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid 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.

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