Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded up 2.8% during mid-day trading on Friday . The stock traded as high as $2.84 and last traded at $2.80. 19,397,420 shares were traded during mid-day trading, a decline of 76% from the average session volume of 81,508,547 shares. The stock had previously closed at $2.72.
Wall Street Analysts Forecast Growth
Several research firms have commented on LCID. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. Cfra set a $2.00 price target on shares of Lucid Group in a report on Thursday, October 17th. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a report on Monday, November 11th. Robert W. Baird restated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group has a consensus rating of "Hold" and an average price target of $3.04.
View Our Latest Report on LCID
Lucid Group Price Performance
The stock has a fifty day moving average of $2.69 and a 200 day moving average of $3.05. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of -2.08 and a beta of 0.94. 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 (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). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The business had revenue of $200.04 million for the quarter, compared to analyst estimates of $199.50 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. On average, analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Public Investment Fund acquired 374,717,927 shares of the stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 61.26% of the stock is owned by insiders.
Hedge Funds Weigh In On Lucid Group
Large investors have recently made changes to their positions in the company. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in Lucid Group during the fourth quarter valued at $44,000. R Squared Ltd acquired a new stake in shares of Lucid Group during the 4th quarter valued at about $145,000. Foster Group Inc. acquired a new stake in shares of Lucid Group during the 4th quarter valued at about $33,000. Prospect Financial Services LLC purchased a new position in shares of Lucid Group in the 4th quarter valued at about $160,000. Finally, Two West Capital Advisors LLC acquired a new position in Lucid Group in the 4th quarter worth about $36,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.
About Lucid Group
(
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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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