Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.28, but opened at $2.74. Lucid Group shares last traded at $2.79, with a volume of 61,487,759 shares.
Analysts Set New Price Targets
A number of research firms recently weighed in on LCID. Robert W. Baird reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $3.00 price objective on shares of Lucid Group in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.71.
View Our Latest Research Report on LCID
Lucid Group Price Performance
The firm has a market cap of $6.21 billion, a PE ratio of -2.13 and a beta of 1.04. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $3.55 and a 200 day moving average price of $3.10.
Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The firm had revenue of $200.58 million for the quarter, compared to analysts' expectations of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The firm's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. On average, sell-side analysts expect that Lucid Group, Inc. will post -1.28 EPS for the current year.
Insider Buying and Selling at Lucid Group
In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company's stock, valued at $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 61.26% of the stock is currently owned by insiders.
Institutional Trading of Lucid Group
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC raised its stake in Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock valued at $27,000 after purchasing an additional 9,250 shares during the last quarter. Meeder Advisory Services Inc. purchased a new position in shares of Lucid Group during the first quarter valued at approximately $29,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the second quarter worth approximately $27,000. Sanctuary Advisors LLC purchased a new stake in Lucid Group in the 2nd quarter worth approximately $26,000. Finally, HighPoint Advisor Group LLC acquired a new position in Lucid Group in the 4th quarter valued at $46,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also
Before you consider Lucid Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lucid Group wasn't on the list.
While Lucid Group currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
