Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded up 2% during trading on Friday . The company traded as high as $2.84 and last traded at $2.78. 20,444,931 shares changed hands during trading, a decline of 74% from the average session volume of 79,811,070 shares. The stock had previously closed at $2.72.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on LCID shares. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada decreased their price objective on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a report on Tuesday, November 19th. Cfra set a $2.00 price target on Lucid Group in a report on Thursday, October 17th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $3.04.
Check Out Our Latest Research Report on Lucid Group
Lucid Group Price Performance
The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -2.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a fifty day simple moving average of $2.78 and a two-hundred day simple moving average of $3.00.
Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.09). The firm had revenue of $200.04 million for the quarter, compared to analyst estimates of $199.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. As a group, equities research analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.
Institutional Trading of Lucid Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the period. Point72 Italy S.r.l. purchased a new position in shares of Lucid Group during the third quarter valued at approximately $3,209,000. Van ECK Associates Corp grew its holdings in Lucid Group by 103.3% during the fourth quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company's stock worth $3,764,000 after buying an additional 633,410 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Lucid Group by 114.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 999,601 shares of the company's stock valued at $3,019,000 after acquiring an additional 533,973 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Lucid Group in the 4th quarter worth about $861,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.
Lucid Group Company Profile
(
Get Free Report)
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.
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