Investors Buy High Volume of Call Options on Lucid Group (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the target of some unusual options trading on Tuesday. Stock investors purchased 118,139 call options on the company. This represents an increase of 54% compared to the average volume of 76,945 call options.

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Lucid Group in the 4th quarter worth approximately $28,000. Meeder Advisory Services Inc. acquired a new position in shares of Lucid Group in the first quarter worth about $29,000. Norden Group LLC purchased a new stake in shares of Lucid Group during the 1st quarter worth about $32,000. Heritage Wealth Advisors grew its position 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 valued at $33,000 after acquiring an additional 4,000 shares during the period. Finally, Summit Trail Advisors LLC purchased a new position in shares of Lucid Group in the 1st quarter valued at about $35,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on LCID. Cantor Fitzgerald cut shares of Lucid Group from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Robert W. Baird decreased their price objective on shares of Lucid Group from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their target price on Lucid Group from $4.00 to $3.00 and set a "hold" rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a report on Tuesday, May 7th. Finally, Bank of America dropped their price objective on Lucid Group from $7.00 to $4.50 and set a "neutral" rating for the company in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Lucid Group currently has a consensus rating of "Hold" and a consensus target price of $4.24.

Lucid Group Stock Performance

Lucid Group stock traded up $0.31 during trading hours on Tuesday, hitting $3.12. 77,611,258 shares of the stock traded hands, compared to its average volume of 33,349,391. Lucid Group has a 1 year low of $2.29 and a 1 year high of $8.37. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of -2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.12. The firm's 50 day moving average price is $2.71 and its 200-day moving average price is $3.43.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $173.54 million. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. The business's revenue was up 15.6% on a year-over-year basis. As a group, equities analysts expect that Lucid Group will post -1.16 EPS for the current fiscal year.

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.