Lucid Group (NASDAQ:LCID) Stock Price Up 3.3%

Lucid Group, Inc. (NASDAQ:LCID) was up 3.3% on Tuesday . The stock traded as high as $3.84 and last traded at $3.73. Approximately 17,745,795 shares were traded during trading, a decline of 44% from the average daily volume of 31,717,691 shares. The stock had previously closed at $3.61.

Analyst Ratings Changes

LCID has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, July 8th. Citigroup reaffirmed a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a report on Monday, April 22nd. Morgan Stanley restated an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, March 25th. Cantor Fitzgerald restated an “underweight” rating and set a $4.00 price objective on shares of Lucid Group in a report on Monday. Finally, Stifel Nicolaus cut their price objective on Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.14.

Lucid Group Trading Up 10.0 %

The business’s 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $2.96. The stock has a market cap of $9.16 billion, a P/E ratio of -3.09 and a beta of 1.04. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49.

Lucid Group (NASDAQ:LCID) last issued its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The firm had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. During the same period in the previous year, the company earned ($0.43) EPS. Lucid Group’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, analysts expect that Lucid Group, Inc. will post -1.16 EPS for the current year.

Institutional Trading of Lucid Group

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Lucid Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after purchasing an additional 489,187 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Lucid Group by 10.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock valued at $48,109,000 after acquiring an additional 1,060,588 shares during the last quarter. Norges Bank bought a new stake in Lucid Group in the fourth quarter worth about $22,208,000. Charles Schwab Investment Management Inc. increased its position in Lucid Group by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock worth $11,488,000 after buying an additional 195,519 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Lucid Group by 42.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock valued at $6,951,000 after purchasing an additional 732,463 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors.

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.