Lucid Group (NASDAQ:LCID) Stock Price Up 2%

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) rose 2% on Wednesday . The company traded as high as $2.60 and last traded at $2.57. Approximately 6,564,084 shares changed hands during trading, a decline of 81% from the average daily volume of 34,049,605 shares. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

LCID has been the subject of several recent analyst reports. Cantor Fitzgerald lowered Lucid Group from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Citigroup reaffirmed a "neutral" rating and issued a $2.90 price target on shares of Lucid Group in a report on Monday. Morgan Stanley reiterated an "underweight" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Bank of America lowered their price objective on Lucid Group from $7.00 to $4.50 and set a "neutral" rating on the stock in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus lowered their price target on Lucid Group from $5.00 to $4.00 and set a "hold" rating on the stock in a research report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.34.

Lucid Group Trading Up 1.2 %

The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -1.84 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 firm's 50 day moving average is $2.92 and its 200 day moving average is $3.64.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share 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 firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $179.88 million. During the same period in the previous year, the business earned ($0.40) EPS. The firm's revenue was down 39.0% compared to the same quarter last year. Equities analysts forecast that Lucid Group, Inc. will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On Lucid Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd boosted its holdings in Lucid Group by 127.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company's stock valued at $37,000 after acquiring an additional 3,700 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Lucid Group in the 4th quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Lucid Group during the 3rd quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. grew its holdings in Lucid Group by 309.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,468 shares of the company's stock valued at $47,000 after buying an additional 6,398 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Lucid Group in the 4th quarter worth $43,000. Institutional investors 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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