Lucid Group Target of Unusually High Options Trading (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the target of some unusual options trading activity on Tuesday. Investors purchased 164,109 call options on the stock. This represents an increase of 80% compared to the typical volume of 90,957 call options.

Lucid Group Trading Up 10.4%

Shares of LCID stock opened at $2.96 on Wednesday. The business has a 50-day moving average of $2.45 and a 200 day moving average of $2.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43. The stock has a market capitalization of $9.03 billion, a PE ratio of -2.21 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The company had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. During the same period last year, the company posted ($0.27) EPS. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lucid Group will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LCID has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Robert W. Baird raised their price target on Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. TD Cowen assumed coverage on Lucid Group in a report on Friday, March 7th. They issued a “hold” rating and a $2.30 price objective for the company. Finally, Stifel Nicolaus decreased their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Lucid Group has a consensus rating of “Hold” and a consensus price target of $2.68.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Lucid Group by 27.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company’s stock worth $44,000 after purchasing an additional 3,882 shares during the period. Sei Investments Co. raised its position in Lucid Group by 14.0% during the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock valued at $109,000 after purchasing an additional 4,431 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Lucid Group by 4.0% in the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock worth $363,000 after buying an additional 4,591 shares during the period. Alpine Global Management LLC grew its position in shares of Lucid Group by 7.4% in the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock worth $203,000 after buying an additional 4,653 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Lucid Group by 1.9% during the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company’s stock valued at $818,000 after buying an additional 5,022 shares during the period. 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.