Lucid Group (NASDAQ:LCID) Shares Down 0.4%

Lucid Group, Inc. (NASDAQ:LCID) shares dropped 0.4% during mid-day trading on Tuesday . The company traded as low as $2.57 and last traded at $2.60. Approximately 2,969,440 shares traded hands during trading, a decline of 90% from the average daily volume of 30,556,830 shares. The stock had previously closed at $2.61.

Analyst Ratings Changes

A number of research firms have recently weighed in on LCID. Stifel Nicolaus cut their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Tuesday, May 7th. Citigroup reissued a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Finally, Bank of America dropped their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.24.

Lucid Group Stock Down 0.4 %

The firm has a market capitalization of $5.91 billion, a PE ratio of -1.99 and a beta of 1.06. The firm’s 50 day moving average price is $2.68 and its two-hundred day moving average price is $3.17. 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 posted its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The company had revenue of $172.74 million for the quarter, compared to the consensus estimate of $173.54 million. During the same quarter last year, the company earned ($0.43) earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.

Institutional Trading of Lucid Group

Large investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Lucid Group in the 4th quarter worth about $28,000. Meeder Advisory Services Inc. bought a new position in shares of Lucid Group during the 1st quarter valued at about $29,000. Norden Group LLC bought a new position in shares of Lucid Group during the 1st quarter valued at about $32,000. Heritage Wealth Advisors boosted its position in shares of Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new position in shares of Lucid Group during the 1st quarter valued at about $35,000. 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.