Lucid Group (NASDAQ:LCID) Shares Up 0.3%

Lucid Group, Inc. (NASDAQ:LCID)’s share price shot up 0.3% during mid-day trading on Monday . The company traded as high as $3.67 and last traded at $3.60. 5,303,783 shares were traded during trading, a decline of 84% from the average session volume of 32,673,582 shares. The stock had previously closed at $3.59.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada reissued 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 reissued a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Finally, Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.71.

Lucid Group Stock Performance

The firm has a 50 day moving average of $3.54 and a two-hundred day moving average of $3.05. The stock has a market cap of $8.26 billion, a P/E ratio of -2.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS 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 company’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the company earned ($0.40) EPS. On average, research analysts predict that Lucid Group, Inc. will post -1.27 EPS for the current fiscal year.

Insider Transactions at Lucid Group

In other 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 of the company’s stock, valued at approximately $6,368,761.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. 61.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LCID. Sanctuary Advisors LLC bought a new position in Lucid Group in the 2nd quarter valued at $26,000. Accredited Investors Inc. bought a new position in Lucid Group in the 2nd quarter valued at $27,000. Frank Rimerman Advisors LLC boosted its position in Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after buying an additional 9,250 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in Lucid Group in the 1st quarter valued at $29,000. Finally, Norden Group LLC bought a new position in shares of Lucid Group in the 1st quarter worth $32,000. 75.17% of the stock is currently owned by institutional investors.

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.