Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s stock price rose 0.6% during mid-day trading on Monday . The company traded as high as $3.46 and last traded at $3.36. Approximately 9,266,421 shares changed hands during trading, a decline of 72% from the average daily volume of 32,654,699 shares. The stock had previously closed at $3.34.
Analysts Set New Price Targets
Several brokerages recently commented on LCID. Robert W. Baird reissued a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday. Royal Bank of Canada restated a "sector perform" rating and set a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. Cantor Fitzgerald reiterated a "neutral" rating and set a $4.00 price objective on shares of Lucid Group in a research note on Monday, September 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $3.71.
View Our Latest Research Report on LCID
Lucid Group Stock Performance
The stock has a market cap of $7.89 billion, a price-to-earnings ratio of -2.68 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The firm has a fifty day moving average of $3.53 and a 200 day moving average of $3.08.
Lucid Group (NASDAQ:LCID - Get Free Report) last issued its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The company had revenue of $200.58 million during the quarter, compared to analyst estimates 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 was up 32.9% compared to the same quarter last year. During the same period last year, the business earned ($0.40) earnings per share. As a group, sell-side analysts forecast that Lucid Group, Inc. will post -1.27 EPS for the current year.
Insiders Place Their Bets
In related news, SVP Eric Bach sold 89,959 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the transaction, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 61.26% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of LCID. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group in the 2nd quarter worth approximately $26,000. Accredited Investors Inc. acquired a new position in Lucid Group during the second quarter worth $27,000. Frank Rimerman Advisors LLC boosted its position in shares of Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock worth $27,000 after buying an additional 9,250 shares during the period. Meeder Advisory Services Inc. acquired a new stake in shares of Lucid Group in the first quarter valued at $29,000. Finally, Norden Group LLC purchased a new stake in shares of Lucid Group in the 1st quarter valued at $32,000. Institutional investors and hedge funds 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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