Lucid Group, Inc. (NASDAQ:LCID) Short Interest Down 19.4% in January

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 220,480,000 shares, a decrease of 19.4% from the December 31st total of 273,660,000 shares. Based on an average daily trading volume, of 80,300,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 18.8% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Robert W. Baird reiterated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. Finally, Royal Bank of Canada cut their price objective on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $3.04.

Institutional Investors Weigh In On Lucid Group

A number of hedge funds have recently bought and sold shares of LCID. Charles Schwab Investment Management Inc. grew its stake in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock valued at $17,991,000 after purchasing an additional 2,335,452 shares in the last quarter. Point72 Italy S.r.l. acquired a new stake in Lucid Group during the 3rd quarter valued at approximately $3,209,000. Van ECK Associates Corp grew its stake in Lucid Group by 103.3% during 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. Lecap Asset Management Ltd. acquired a new stake in Lucid Group during the 4th quarter valued at approximately $861,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after acquiring an additional 249,500 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Stock Up 1.9 %

Shares of NASDAQ:LCID traded up $0.05 during mid-day trading on Thursday, hitting $2.72. 66,705,142 shares of the company traded hands, compared to its average volume of 83,089,734. The firm has a market cap of $8.19 billion, a P/E ratio of -2.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The firm's 50 day simple moving average is $2.73 and its 200 day simple moving average is $3.03.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $199.50 million. During the same quarter last year, the business earned ($0.28) EPS. On average, equities analysts anticipate that Lucid Group will post -1.25 EPS for the current year.

Lucid Group Company Profile

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.