Lucid Group Sees Unusually Large Options Volume (NASDAQ:LCID)

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was 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 legal filing with the SEC, which is available at the SEC website. Insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in Lucid Group during the 4th quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Lucid Group in the 4th quarter worth about $43,000. MGO Private Wealth LLC bought a new stake in Lucid Group in the 4th quarter valued at about $43,000. Frank Rimerman Advisors LLC lifted its position in Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares during the last quarter. Finally, Meeder Advisory Services Inc. bought a new position in Lucid Group in the 1st quarter worth about $29,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $3.85 on Friday. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of -3.03 and a beta of 1.04. Lucid Group has a twelve month low of $2.29 and a twelve month high of $6.45. The business has a 50 day simple moving average of $3.13 and a 200-day simple moving average of $2.97.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The business had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.40) earnings per share. As a group, equities research analysts expect that Lucid Group will post -1.17 earnings per share for the current year.

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.