Lucid Group (NASDAQ:LCID) Trading Up 1.7%

Lucid Group, Inc. (NASDAQ:LCID) shares traded up 1.7% during trading on Tuesday . The company 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.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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. Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Citigroup reiterated a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research report on Monday. Robert W. Baird decreased their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Finally, Bank of America cut their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note 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 company presently has an average rating of “Hold” and an average price target of $4.34.

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The company has a 50 day moving average of $2.90 and a 200 day moving average of $3.63.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The business had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business’s quarterly revenue was down 39.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) EPS. On average, analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current year.

Institutional Trading of Lucid Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of Lucid Group by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 248,101 shares of the company’s stock valued at $1,387,000 after purchasing an additional 2,449 shares during the period. M&T Bank Corp grew its holdings in shares of Lucid Group by 12.8% in the 3rd quarter. M&T Bank Corp now owns 26,770 shares of the company’s stock valued at $150,000 after acquiring an additional 3,046 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Lucid Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 58,547 shares of the company’s stock valued at $327,000 after acquiring an additional 3,055 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Lucid Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after acquiring an additional 3,230 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its holdings in shares of Lucid Group by 33.4% in the 3rd quarter. FAS Wealth Partners Inc. now owns 13,620 shares of the company’s stock valued at $76,000 after acquiring an additional 3,410 shares in the last quarter. Institutional investors and hedge funds 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.