Lucid Group, Inc. (NASDAQ:LCID) Short Interest Update

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Lucid Group in the fourth quarter valued at $28,000. First National Corp MA ADV acquired a new stake in shares of Lucid Group during the fourth quarter worth about $32,000. Yousif Capital Management LLC purchased a new position in shares of Lucid Group in the fourth quarter valued at approximately $32,000. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group in the second quarter valued at approximately $26,000. Finally, Crumly & Associates Inc. purchased a new stake in Lucid Group during the 3rd quarter worth approximately $38,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LCID shares. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a report on Tuesday, January 7th. Cfra set a $2.00 price objective on Lucid Group in a report on Thursday, October 17th. Robert W. Baird reissued a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, October 7th. Royal Bank of Canada cut their price target 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. Finally, R. F. Lafferty upgraded 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 note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Lucid Group currently has a consensus rating of "Hold" and a consensus target price of $3.04.

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Lucid Group Stock Up 1.5 %

Lucid Group stock traded up $0.04 during trading hours on Friday, hitting $2.76. The company had a trading volume of 80,126,330 shares, compared to its average volume of 75,600,592. The company has a 50-day moving average price of $2.75 and a two-hundred day moving average price of $3.01. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $200.04 million during the quarter, compared to the consensus estimate of $199.50 million. During the same period last year, the firm earned ($0.28) EPS. On average, analysts forecast that Lucid Group will post -1.25 earnings per share 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.