Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) saw unusually-strong trading volume on Friday . Approximately 16,388,567 shares changed hands during trading, a decline of 46% from the previous session’s volume of 30,313,320 shares.The stock last traded at $3.87 and had previously closed at $3.40.
Analysts Set New Price Targets
Several analysts have commented on LCID shares. Robert W. Baird reiterated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday. Morgan Stanley restated an “underweight” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, March 25th. Cantor Fitzgerald restated an “underweight” rating and issued a $4.00 price target on shares of Lucid Group in a research note on Monday, July 1st. Citigroup restated a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.14.
Check Out Our Latest Stock Report on Lucid Group
Lucid Group Trading Up 19.7 %
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The business had revenue of $172.74 million for the quarter, compared to the consensus estimate of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. Lucid Group’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) earnings per share. As a group, equities research analysts anticipate that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG increased its holdings in shares of Lucid Group by 1.0% in the third quarter. Deutsche Bank AG now owns 1,120,594 shares of the company’s stock worth $6,264,000 after purchasing an additional 11,089 shares during the last quarter. Banque Pictet & Cie SA purchased a new position in Lucid Group in the third quarter worth about $544,000. Vanguard Group Inc. grew its position in Lucid Group by 1.2% in the third quarter. Vanguard Group Inc. now owns 74,075,588 shares of the company’s stock worth $414,083,000 after acquiring an additional 913,415 shares in the last quarter. DNB Asset Management AS grew its position in Lucid Group by 6.1% in the fourth quarter. DNB Asset Management AS now owns 148,472 shares of the company’s stock worth $625,000 after acquiring an additional 8,559 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Lucid Group by 46.5% in the fourth quarter. Fulton Bank N.A. now owns 63,511 shares of the company’s stock worth $267,000 after acquiring an additional 20,168 shares in the last quarter. 75.17% of the stock is 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.
See Also
- Five stocks we like better than Lucid Group
- How to Invest in Biotech Stocks
- Top 3 Beverage Stocks: Summer Earnings Reveal Key Trends
- How to Calculate Stock Profit
- This Financial Stock’s Earnings Signal a Buying Opportunity
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Social Platform Stock Hits New Highs: Is More Growth Ahead?
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.