Traders Buy High Volume of Lucid Group Call Options (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of some unusual options trading activity on Thursday. Stock investors bought 96,776 call options on the stock. This is an increase of 44% compared to the average daily volume of 67,413 call options.

Insider Activity

In related news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now owns 2,028,268 shares in the company, valued at $6,368,761.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently added to or reduced their stakes in LCID. Vanguard Group Inc. boosted its stake in shares of Lucid Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after acquiring an additional 489,187 shares during the last quarter. Norges Bank purchased a new position in shares of Lucid Group during the 4th quarter worth $22,208,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Lucid Group by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock worth $11,488,000 after acquiring an additional 195,519 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lucid Group by 27.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after acquiring an additional 581,082 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Lucid Group by 42.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock worth $6,951,000 after acquiring an additional 732,463 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LCID. Stifel Nicolaus reduced their price target on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Friday, August 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research note on Monday. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Stock Up 10.1 %

Shares of LCID traded up $0.36 on Thursday, hitting $3.94. 53,052,633 shares of the stock traded hands, compared to its average volume of 32,194,625. The company has a market capitalization of $9.09 billion, a PE ratio of -2.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.12 and a current ratio of 4.66. The business has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $2.97. Lucid Group has a one year low of $2.29 and a one year high of $6.45.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $200.58 million for the quarter, compared to the consensus estimate of $190.30 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 32.9% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. As a group, equities analysts forecast that Lucid Group will post -1.17 earnings per share for the current fiscal year.

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.