Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $3.37 and last traded at $3.41. 3,931,593 shares were traded during trading, a decline of 88% from the average session volume of 32,608,652 shares. The stock had previously closed at $3.42.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Cantor Fitzgerald restated a "neutral" rating and set a $4.00 price objective on shares of Lucid Group in a research note on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $3.00 price target on shares of Lucid Group in a report on Thursday, September 12th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a report on Monday. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, Lucid Group currently has an average rating of "Hold" and a consensus target price of $3.71.
Read Our Latest Research Report on LCID
Lucid Group Stock Up 0.6 %
The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. The business has a 50 day simple moving average of $3.53 and a 200-day simple moving average of $3.08. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of -2.74 and a beta of 1.04.
Lucid Group (NASDAQ:LCID - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business'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 earned ($0.40) earnings per share. On average, equities analysts expect that Lucid Group, Inc. will post -1.27 EPS for the current year.
Insiders Place Their Bets
In other news, SVP Eric Bach sold 89,959 shares of the company's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 61.26% of the stock is owned by insiders.
Institutional Trading of Lucid Group
Several institutional investors have recently added to or reduced their stakes in LCID. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group in the second quarter worth $26,000. Accredited Investors Inc. purchased a new stake in Lucid Group during the 2nd quarter worth about $27,000. Frank Rimerman Advisors LLC increased its holdings in Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock worth $27,000 after purchasing an additional 9,250 shares during the period. Meeder Advisory Services Inc. acquired a new stake in Lucid Group in the 1st quarter valued at about $29,000. Finally, Norden Group LLC acquired a new position in shares of Lucid Group during the first quarter worth about $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.
About Lucid Group
(
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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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