Lucid Group Target of Unusually Large Options Trading (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 131,030 put options on the company. This is an increase of 73% compared to the average daily volume of 75,943 put options.

Institutional Trading of Lucid Group

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in Lucid Group in the fourth quarter valued at approximately $28,000. Meeder Advisory Services Inc. acquired a new stake in Lucid Group in the 1st quarter worth approximately $29,000. Norden Group LLC acquired a new stake in Lucid Group during the 1st quarter worth about $32,000. Heritage Wealth Advisors boosted its stake in shares of Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company's stock worth $33,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new stake in shares of Lucid Group in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley reaffirmed an "underweight" rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Bank of America decreased their price target on Lucid Group from $7.00 to $4.50 and set a "neutral" rating on the stock in a report on Thursday, February 22nd. Robert W. Baird reduced their target price on shares of Lucid Group from $6.00 to $4.00 and set a "neutral" rating on the stock in a research note on Thursday, February 22nd. Cantor Fitzgerald downgraded shares of Lucid Group from a "neutral" rating to an "underweight" rating and cut their price target for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Stifel Nicolaus decreased 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 note on Wednesday. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $4.24.

Lucid Group Trading Up 3.4 %

LCID traded up $0.09 during trading on Wednesday, hitting $2.71. 21,304,128 shares of the stock were exchanged, compared to its average volume of 33,113,262. Lucid Group has a 1 year low of $2.29 and a 1 year high of $8.37. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of -1.91 and a beta of 1.04. The firm has a 50 day simple moving average of $2.76 and a 200 day simple moving average of $3.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. 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 earned ($0.43) earnings per share. The firm's revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts expect that Lucid Group will post -1.06 EPS for the current year.

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.