Lucid Group (NASDAQ:LCID) Stock Price Up 2.1% - What's Next?

Key Points

• Lucid Group's stock price rose by 2.1% during trading, closing at $24.30, with a recent trading volume of approximately 10 million shares, down 14% from the average.
• Analysts have varied opinions on the stock, with price targets ranging from $20.00 to $30.00; currently, the consensus rating is a "Hold" with an average price target of $23.85.
• The company posted a loss of $2.80 EPS last quarter, missing expectations, but reported a year-over-year revenue increase of 29.3% despite facing a negative net margin of 259.57%.

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares rose 2.1% during trading on Wednesday . The company traded as high as $24.36 and last traded at $24.30. Approximately 10,031,380 shares traded hands during trading, a decline of 14% from the average daily volume of 11,621,850 shares. The stock had previously closed at $23.79.

Wall Street Analysts Forecast Growth

LCID has been the subject of a number of analyst reports. Cantor Fitzgerald raised their price target on shares of Lucid Group from $20.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Morgan Stanley raised their price target on shares of Lucid Group to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Finally, Stifel Nicolaus set a $2.10 price target on shares of Lucid Group in a research note on Friday, August 29th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Lucid Group presently has a consensus rating of "Hold" and an average price target of $23.85.

Lucid Group Stock Up 2.1%

The business's 50 day moving average price is $22.24 and its 200-day moving average price is $23.27. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.58 and a quick ratio of 2.11. The company has a market cap of $7.47 billion, a P/E ratio of -2.11 and a beta of 0.78.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.20) by ($0.60). Lucid Group had a negative net margin of 259.57% and a negative return on equity of 79.40%. The firm had revenue of $259.43 million during the quarter, compared to the consensus estimate of $288.10 million. During the same quarter last year, the firm posted ($2.90) EPS. The business's revenue was up 29.3% on a year-over-year basis. On average, analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its position in Lucid Group by 9.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company's stock valued at $25,000 after buying an additional 1,055 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Lucid Group by 27.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company's stock valued at $44,000 after buying an additional 3,882 shares during the last quarter. Amalgamated Bank boosted its position in Lucid Group by 9.3% in the 2nd quarter. Amalgamated Bank now owns 55,350 shares of the company's stock valued at $117,000 after buying an additional 4,720 shares during the last quarter. Heritage Wealth Advisors boosted its position in Lucid Group by 43.5% in the 2nd quarter. Heritage Wealth Advisors now owns 16,500 shares of the company's stock valued at $35,000 after buying an additional 5,000 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in Lucid Group by 47.5% in the 2nd quarter. Brown Advisory Inc. now owns 15,530 shares of the company's stock valued at $33,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds 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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