Lucid Group (NASDAQ:LCID) Trading 3.8% Higher – Should You Buy?

Lucid Group, Inc. (NASDAQ:LCID)’s share price rose 3.8% during trading on Thursday . The stock traded as high as $11.44 and last traded at $11.33. Approximately 7,134,040 shares changed hands during trading, a decline of 15% from the average daily volume of 8,380,773 shares. The stock had previously closed at $10.91.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LCID. Robert W. Baird set a $14.00 price target on Lucid Group in a research note on Tuesday, January 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Morgan Stanley downgraded Lucid Group from a “buy” rating to an “underweight” rating and lowered their price target for the company from $30.00 to $10.00 in a report on Monday, December 8th. Stifel Nicolaus dropped their price target on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, November 17th. Finally, Zacks Research downgraded shares of Lucid Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $18.92.

Lucid Group Trading Up 3.8%

The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -1.06 and a beta of 0.89. The business has a 50-day moving average of $11.76 and a two-hundred day moving average of $17.94.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing analysts’ consensus estimates of ($2.32) by ($0.33). The firm had revenue of $336.58 million during the quarter, compared to the consensus estimate of $378.44 million. Lucid Group had a negative return on equity of 85.13% and a negative net margin of 224.99%.Lucid Group’s revenue was up 68.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.76) EPS. Research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Lucid Group by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock worth $127,488,000 after acquiring an additional 701,826 shares during the period. Calamos Advisors LLC acquired a new position in Lucid Group in the fourth quarter worth about $1,586,000. Arizona State Retirement System lifted its stake in Lucid Group by 6.2% during the fourth quarter. Arizona State Retirement System now owns 38,236 shares of the company’s stock worth $404,000 after purchasing an additional 2,217 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Lucid Group by 16.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,645 shares of the company’s stock worth $123,000 after purchasing an additional 1,604 shares during the period. Finally, Prakash Investment Advisors LLC grew its stake in shares of Lucid Group by 49.4% in the 4th quarter. Prakash Investment Advisors LLC now owns 15,100 shares of the company’s stock valued at $160,000 after purchasing an additional 4,990 shares during the period. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.