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

Lucid Group, Inc. (NASDAQ:LCID) was the target of unusually large options trading on Wednesday. Stock investors acquired 131,030 put options on the stock. This is an increase of approximately 73% compared to the average volume of 75,943 put options.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Tuesday. Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $6.00 to $4.00 in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Bank of America decreased their target price on 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 equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.24.

Lucid Group Stock Up 3.4 %

LCID opened at $2.71 on Thursday. Lucid Group has a one year low of $2.29 and a one year high of $8.37. 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 fifty day moving average is $2.76 and its 200-day moving average is $3.47. The company has a market capitalization of $6.23 billion, a PE ratio of -1.94 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last issued its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The company had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. On average, equities analysts predict that Lucid Group will post -1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of Lucid Group by 32.1% in the third quarter. Commonwealth Equity Services LLC now owns 179,136 shares of the company’s stock worth $1,001,000 after buying an additional 43,561 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Lucid Group by 15.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 172,105 shares of the company’s stock worth $962,000 after acquiring an additional 22,425 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Lucid Group by 52.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,261 shares of the company’s stock worth $74,000 after acquiring an additional 4,590 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Lucid Group by 7.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 179,987 shares of the company’s stock worth $1,006,000 after acquiring an additional 11,941 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in Lucid Group during the 3rd quarter worth $84,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

About Lucid Group

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.