Lucid Group, Inc. (NASDAQ:LCID) Short Interest Update

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 350,700,000 shares, an increase of 29.2% from the March 31st total of 271,470,000 shares. Based on an average daily trading volume, of 97,580,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 29.5% of the shares of the company are sold short.

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 stock. Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group in the 4th quarter worth approximately $28,000. Accredited Investors Inc. bought a new stake in Lucid Group during the fourth quarter valued at $30,000. Proficio Capital Partners LLC bought a new position in shares of Lucid Group in the 4th quarter worth about $31,000. DRW Securities LLC bought a new stake in shares of Lucid Group during the 4th quarter valued at about $31,000. Finally, First National Corp MA ADV acquired a new stake in Lucid Group during the fourth quarter worth approximately $32,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Trading Down 1.5 %

LCID traded down $0.04 during trading on Tuesday, reaching $2.33. 126,020,916 shares of the company's stock were exchanged, compared to its average volume of 64,777,131. The firm has a fifty day moving average price of $2.35 and a two-hundred day moving average price of $2.55. The stock has a market capitalization of $7.05 billion, a PE ratio of -1.74 and a beta of 0.88. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. As a group, equities research analysts forecast that Lucid Group will post -1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LCID has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. TD Cowen started coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Redburn Atlantic downgraded shares of Lucid Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $3.50 to $1.13 in a report on Monday, February 24th. Benchmark restated a "buy" rating and issued a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of "Hold" and an average price target of $2.68.

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.