Lucid Group (NASDAQ:LCID) Trading Up 4.8%

Lucid Group, Inc. (NASDAQ:LCID) traded up 4.8% during trading on Thursday . The stock traded as high as $3.34 and last traded at $3.30. 15,953,383 shares changed hands during trading, a decline of 47% from the average session volume of 30,107,488 shares. The stock had previously closed at $3.15.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LCID shares. Morgan Stanley restated an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, March 25th. Stifel Nicolaus lowered their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday. Citigroup reiterated a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a report on Monday, April 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.14.

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.12. The stock has a market capitalization of $7.84 billion, a P/E ratio of -2.69 and a beta of 1.04. The company has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $2.98.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $172.74 million during the quarter, compared to analysts’ expectations of $173.54 million. Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. Lucid Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.43) EPS. On average, equities analysts forecast that Lucid Group, Inc. will post -1.16 EPS for the current year.

Institutional Trading of Lucid Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC increased its holdings in Lucid Group by 84.5% during the 1st quarter. Cetera Advisors LLC now owns 19,015 shares of the company’s stock worth $54,000 after acquiring an additional 8,710 shares during the period. Swedbank AB bought a new stake in Lucid Group during the first quarter valued at $82,000. Tidal Investments LLC grew its position in Lucid Group by 12.7% during the first quarter. Tidal Investments LLC now owns 338,712 shares of the company’s stock worth $965,000 after buying an additional 38,072 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Lucid Group by 13.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 55,253 shares of the company’s stock worth $157,000 after acquiring an additional 6,363 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after acquiring an additional 474,534 shares in the last quarter. Hedge funds and other institutional investors 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.