Lucid Group (NASDAQ:LCID) Trading Up 4.6% - Still a Buy?

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) were up 4.6% during trading on Monday . The stock traded as high as $2.63 and last traded at $2.63. Approximately 43,179,258 shares traded hands during trading, a decline of 35% from the average daily volume of 66,189,677 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

Several equities analysts have recently commented on LCID shares. TD Cowen started coverage on shares of Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 price target on the stock. Cowen started coverage on shares of Lucid Group in a research report on Thursday, March 6th. They set a "hold" rating on the stock. Redburn Atlantic cut shares of Lucid Group from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Benchmark reaffirmed a "buy" rating and set a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.68.

Lucid Group Trading Up 5.6%

The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a market cap of $8.61 billion, a P/E ratio of -2.12 and a beta of 0.88. The firm's 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.55.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The firm had revenue of $235.05 million during the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. Lucid Group's revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS. As a group, equities research analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group in the fourth quarter valued at approximately $28,000. Accredited Investors Inc. bought a new stake in Lucid Group during the fourth quarter worth approximately $30,000. Proficio Capital Partners LLC bought a new stake in Lucid Group during the fourth quarter worth approximately $31,000. DRW Securities LLC bought a new stake in Lucid Group during the fourth quarter worth approximately $31,000. Finally, HB Wealth Management LLC bought a new stake in Lucid Group during the first quarter worth approximately $25,000. 75.17% of the stock is currently owned by institutional investors.

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.