Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price shot up 2.1% during trading on Thursday . The stock traded as high as $2.77 and last traded at $2.73. 16,555,775 shares were traded during trading, a decline of 79% from the average session volume of 80,275,781 shares. The stock had previously closed at $2.67.
Wall Street Analyst Weigh In
LCID has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research note on Tuesday, November 19th. Cfra set a $2.00 target price on Lucid Group in a research note on Thursday, October 17th. Robert W. Baird reaffirmed a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Tuesday, January 7th. Finally, R. F. Lafferty raised shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $3.04.
Read Our Latest Stock Analysis on LCID
Lucid Group Stock 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 50-day moving average price of $2.77 and a 200-day moving average price of $3.00. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -2.19 and a beta of 0.93.
Lucid Group (NASDAQ:LCID - Get Free Report) last released 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 company had revenue of $200.04 million during 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, analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current year.
Institutional Investors Weigh In On Lucid Group
Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. Point72 Italy S.r.l. bought a new position in Lucid Group in the third quarter valued at about $3,209,000. Van ECK Associates Corp boosted its stake in shares of Lucid Group by 103.3% in the 4th quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company's stock valued at $3,764,000 after purchasing an additional 633,410 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of 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 purchasing an additional 533,973 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Lucid Group in the 4th quarter valued at approximately $861,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.
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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