Lucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s share price shot up 0.3% on Monday . The stock traded as high as $3.67 and last traded at $3.60. 5,303,783 shares were traded during trading, a decline of 84% from the average session volume of 32,673,582 shares. The stock had previously closed at $3.59.
Analyst Ratings Changes
Several brokerages have recently weighed in on LCID. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, July 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.71.
Lucid Group Stock Down 0.3 %
The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The stock’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $3.05. The stock has a market cap of $8.26 billion, a P/E ratio of -2.86 and a beta of 1.05.
Lucid Group (NASDAQ:LCID – Get Free Report) last issued its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The business had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business’s revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) EPS. On average, research analysts anticipate that Lucid Group, Inc. will post -1.27 earnings per share for the current year.
Insiders Place Their Bets
In other news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 61.26% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Lucid Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCID. Sanctuary Advisors LLC bought a new stake in shares of Lucid Group in the 2nd quarter worth $26,000. Accredited Investors Inc. acquired a new stake in Lucid Group in the 2nd quarter valued at about $27,000. Frank Rimerman Advisors LLC boosted its position in shares of Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares in the last quarter. Meeder Advisory Services Inc. acquired a new position in shares of Lucid Group in the 1st quarter worth approximately $29,000. Finally, Norden Group LLC bought a new stake in shares of Lucid Group in the 1st quarter worth approximately $32,000. Institutional investors own 75.17% of the company’s stock.
About Lucid Group
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.