Lucid Group Sees Unusually Large Options Volume (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 221,986 call options on the stock. This represents an increase of approximately 76% compared to the average daily volume of 125,788 call options.

Lucid Group Stock Performance

Lucid Group stock traded down $0.07 during trading hours on Friday, reaching $2.92. 75,031,957 shares of the stock were exchanged, compared to its average volume of 189,264,336. The stock has a market cap of $8.91 billion, a P/E ratio of -2.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.97 and a current ratio of 3.32. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The firm's 50 day moving average is $2.39 and its 200 day moving average is $2.51.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 68.64% and a negative net margin of 275.73%. The company had revenue of $235.05 million for the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the company earned ($0.27) earnings per share. The business's revenue for the quarter was up 36.1% compared to the same quarter last year. Analysts predict that Lucid Group will post -1.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on LCID shares. Robert W. Baird upped their price target on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Lucid Group presently has a consensus rating of "Hold" and an average target price of $2.68.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently made changes to their positions in LCID. Public Investment Fund grew its stake in shares of Lucid Group by 28.8% during the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock worth $5,348,084,000 after purchasing an additional 396,188,386 shares during the period. Vanguard Group Inc. grew its stake in shares of Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock worth $333,163,000 after purchasing an additional 26,172,852 shares during the period. Two Sigma Investments LP grew its stake in shares of Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after purchasing an additional 15,493,320 shares during the period. Renaissance Technologies LLC grew its stake in shares of Lucid Group by 342.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after purchasing an additional 12,803,987 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in shares of Lucid Group during the 4th quarter worth $34,123,000. 75.17% of the stock is owned by institutional investors and hedge funds.

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.