Lucid Group (NASDAQ:LCID) Stock Price Up 0.8%

Lucid Group, Inc. (NASDAQ:LCID) shares traded up 0.8% during mid-day trading on Monday . The company traded as high as $2.58 and last traded at $2.48. 9,162,129 shares were traded during mid-day trading, a decline of 73% from the average session volume of 33,451,969 shares. The stock had previously closed at $2.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America decreased their target price on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Robert W. Baird decreased their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Cantor Fitzgerald lowered shares of Lucid Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.34.

Lucid Group Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of -1.77 and a beta of 1.01. The stock’s fifty day simple moving average is $2.85 and its two-hundred day simple moving average is $3.58.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The firm had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $179.88 million. During the same period in the prior year, the company posted ($0.40) earnings per share. Lucid Group’s quarterly revenue was down 39.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Lucid Group, Inc. will post -1.06 EPS for the current year.

Institutional Trading of Lucid Group

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of Lucid Group in the 4th quarter valued at about $28,000. Norden Group LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at about $32,000. Summit Trail Advisors LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at about $35,000. UniSuper Management Pty Ltd increased its holdings in shares of Lucid Group by 127.6% in the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after purchasing an additional 3,700 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Lucid Group in the 3rd quarter valued at about $38,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.