Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares rose 2.1% on Thursday . The stock traded as high as $2.77 and last traded at $2.73. Approximately 16,555,775 shares traded hands during trading, a decline of 79% from the average daily volume of 80,275,781 shares. The stock had previously closed at $2.67.
Analyst Ratings Changes
Several brokerages have recently issued reports on LCID. Cfra set a $2.00 price objective on Lucid Group in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price target on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. R. F. Lafferty upgraded shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $3.04.
Check Out Our Latest Research Report on LCID
Lucid Group Trading Up 1.9 %
The firm's fifty day moving average price is $2.73 and its 200-day moving average price is $3.03. The company has a market cap of $8.19 billion, a price-to-earnings ratio of -2.03 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 released its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $199.50 million. During the same period last year, the firm posted ($0.28) EPS. On average, equities analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of LCID. Amalgamated Bank boosted its holdings in shares of Lucid Group by 12.5% in the second quarter. Amalgamated Bank now owns 47,916 shares of the company's stock worth $125,000 after buying an additional 5,337 shares during the period. XTX Topco Ltd bought a new stake in shares of Lucid Group during the 2nd quarter worth about $69,000. Xponance Inc. raised its position in shares of Lucid Group by 20.8% in the second quarter. Xponance Inc. now owns 31,938 shares of the company's stock valued at $83,000 after purchasing an additional 5,493 shares during the period. The Manufacturers Life Insurance Company lifted its position in Lucid Group by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 257,027 shares of the company's stock worth $671,000 after acquiring an additional 7,536 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Lucid Group during the second quarter worth approximately $243,000. Institutional investors own 75.17% of the company's stock.
About Lucid Group
(
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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