Lucid Group (NASDAQ:LCID) Stock Price Up 3.4% - Time to Buy?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was up 3.4% on Monday . The company traded as high as $2.97 and last traded at $2.89. Approximately 36,660,008 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 82,442,555 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LCID shares. R. F. Lafferty raised shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price on the stock in a research note on Monday, November 11th. Royal Bank of Canada lowered their target price on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research note on Tuesday, November 19th. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research note 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $3.04.

Lucid Group Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The stock has a market capitalization of $8.04 billion, a P/E ratio of -1.99 and a beta of 0.94. The company's 50 day simple moving average is $2.71 and its two-hundred day simple moving average is $3.03.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings results 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 company had revenue of $200.04 million for the quarter, compared to the consensus estimate of $199.50 million. During the same period last year, the company earned ($0.28) earnings per share. As a group, equities analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Group

Large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group in the fourth quarter worth $28,000. First National Corp MA ADV acquired a new stake in Lucid Group in the fourth quarter worth $32,000. Yousif Capital Management LLC acquired a new stake in Lucid Group in the fourth quarter worth $32,000. Sanctuary Advisors LLC acquired a new stake in Lucid Group in the second quarter worth $26,000. Finally, Crumly & Associates Inc. acquired a new stake in Lucid Group in the third quarter worth $38,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.

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