Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $2.43 and last traded at $2.42. 6,340,248 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 34,169,969 shares. The stock had previously closed at $2.38.
Wall Street Analyst Weigh In
Several research analysts have commented on LCID shares. Stifel Nicolaus decreased their price target on shares of Lucid Group from $5.00 to $4.00 and set a "hold" rating on the stock in a research note on Monday, February 26th. Morgan Stanley reaffirmed an "underweight" rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, March 25th. Robert W. Baird cut their target price on shares of Lucid Group from $6.00 to $4.00 and set a "neutral" rating on the stock in a report on Thursday, February 22nd. Citigroup reaffirmed a "neutral" rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday. Finally, Cantor Fitzgerald cut shares of Lucid Group from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.34.
Check Out Our Latest Stock Report on Lucid Group
Lucid Group Stock Performance
The firm has a market cap of $5.80 billion, a P/E ratio of -1.80 and a beta of 1.01. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $2.92 and a 200-day simple moving average of $3.64.
Lucid Group (NASDAQ:LCID - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.01). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business had revenue of $157.20 million during the quarter, compared to the consensus estimate of $179.88 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The firm's revenue was down 39.0% compared to the same quarter last year. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.
Institutional Trading of Lucid Group
A number of hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its holdings in Lucid Group by 19.8% in the third quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company's stock worth $18,453,000 after acquiring an additional 546,676 shares in the last quarter. Bank of New York Mellon Corp grew its position in Lucid Group by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company's stock valued at $23,562,000 after purchasing an additional 410,025 shares during the last quarter. Fulton Bank N.A. increased its stake in Lucid Group by 46.5% during the 4th quarter. Fulton Bank N.A. now owns 63,511 shares of the company's stock valued at $267,000 after purchasing an additional 20,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Lucid Group by 10.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company's stock worth $48,109,000 after buying an additional 1,060,588 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Lucid Group by 41.8% in the third quarter. Invesco Ltd. now owns 5,986,732 shares of the company's stock worth $33,466,000 after buying an additional 1,763,443 shares in the last quarter. 75.17% of the stock is owned by institutional investors.
About Lucid Group
(
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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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