Lucid Group (NASDAQ:LCID) Trading Up 2.7%

Lucid Group, Inc. (NASDAQ:LCID) shares were up 2.7% during trading on Monday . The stock traded as high as $2.71 and last traded at $2.68. Approximately 6,430,204 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 29,829,879 shares. The stock had previously closed at $2.61.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Stifel Nicolaus reduced their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $4.00 target price on shares of Lucid Group in a report on Monday. Finally, Citigroup reissued a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Lucid Group currently has an average rating of “Hold” and a consensus target price of $4.24.

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.12. The stock has a market cap of $6.34 billion, a PE ratio of -2.17 and a beta of 1.04. The stock has a 50-day simple moving average of $2.70 and a 200-day simple moving average of $3.03.

Lucid Group (NASDAQ:LCID) last issued its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The company had revenue of $172.74 million during the quarter, compared to analysts’ expectations of $173.54 million. Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. Lucid Group’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS. Equities analysts predict that Lucid Group, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Lucid Group during the fourth quarter valued at about $28,000. Meeder Advisory Services Inc. purchased a new stake in Lucid Group during the 1st quarter worth approximately $29,000. Norden Group LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at approximately $32,000. Heritage Wealth Advisors grew its position in shares of Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after buying an additional 4,000 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in shares of Lucid Group in the first quarter worth $35,000. 75.17% of the stock is owned by institutional investors and hedge funds.

About Lucid Group

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.