Lucid Group (NASDAQ:LCID) Stock Price Up 2%

Shares of Lucid Group, Inc. (NASDAQ:LCID) were up 2% during mid-day trading on Friday . The company traded as high as $2.53 and last traded at $2.50. Approximately 3,668,773 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 33,646,020 shares. The stock had previously closed at $2.45.

Analyst Ratings Changes

Several research firms have weighed in on LCID. Stifel Nicolaus cut their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Bank of America reduced their target price on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Robert W. Baird decreased their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald downgraded shares of Lucid Group from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.34.

Lucid Group Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The stock’s 50-day simple moving average is $2.85 and its 200-day simple moving average is $3.59. The firm has a market capitalization of $5.66 billion, a PE ratio of -1.76 and a beta of 1.01.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The firm had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $179.88 million. During the same period last year, the company posted ($0.40) earnings per share. The business’s revenue for the quarter was down 39.0% compared to the same quarter last year. As a group, sell-side analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors have recently added to or reduced their stakes in LCID. GAMMA Investing LLC bought a new stake in Lucid Group in the fourth quarter worth $28,000. Norden Group LLC bought a new stake in shares of Lucid Group during the first quarter worth $32,000. Summit Trail Advisors LLC bought a new stake in shares of Lucid Group during the first quarter worth $35,000. UniSuper Management Pty Ltd lifted its position in shares of Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Lucid Group during the third quarter worth $38,000. 75.17% of the stock is owned by hedge funds and other 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.