Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) shares traded down 1.2% on Tuesday . The stock traded as low as $2.45 and last traded at $2.49. 13,473,478 shares were traded during trading, a decline of 60% from the average session volume of 33,805,703 shares. The stock had previously closed at $2.52.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on LCID shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Cfra set a $2.00 price target on shares of Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.54.
Check Out Our Latest Report on Lucid Group
Lucid Group Price Performance
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, equities analysts anticipate that Lucid Group, Inc. will post -1.28 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 61.26% of the company’s stock.
Institutional Investors Weigh In On Lucid Group
Several institutional investors and hedge funds have recently made changes to their positions in the company. Latko Wealth Management Ltd. acquired a new stake in shares of Lucid Group in the 3rd quarter valued at $39,000. DekaBank Deutsche Girozentrale acquired a new position in Lucid Group during the 3rd quarter worth about $192,000. Ballentine Partners LLC grew its holdings in Lucid Group by 67.3% during the 3rd quarter. Ballentine Partners LLC now owns 33,707 shares of the company’s stock worth $119,000 after acquiring an additional 13,554 shares during the last quarter. Brighton Jones LLC bought a new stake in Lucid Group during the 3rd quarter worth about $56,000. Finally, Greenleaf Trust grew its holdings in Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after acquiring an additional 4,604 shares during 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.
Featured Articles
- Five stocks we like better than Lucid Group
- How Technical Indicators Can Help You Find Oversold Stocks
- Microsoft Can Hit New All-Time Highs This Year – Here’s Why
- What is a Stock Market Index and How Do You Use Them?
- Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy
- What Are Growth Stocks and Investing in Them
- IonQ’s Quantum Surge: Ride the Wave or Cash Out?
Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.