Lucid Group (NASDAQ:LCID) Trading 0.6% Higher – What’s Next?

Lucid Group, Inc. (NASDAQ:LCID)’s stock price traded up 0.6% on Monday . The company traded as high as $3.46 and last traded at $3.36. 9,266,421 shares traded hands during trading, a decline of 72% from the average session volume of 32,654,699 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LCID shares. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, Lucid Group has a consensus rating of “Hold” and an average price target of $3.71.

Lucid Group Trading Down 1.5 %

The company’s 50 day moving average price is $3.53 and its 200 day moving average price is $3.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The firm has a market cap of $7.82 billion, a PE ratio of -2.70 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $200.58 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) EPS. As a group, analysts forecast that Lucid Group, Inc. will post -1.27 EPS for the current fiscal year.

Insider Activity at Lucid Group

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 61.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors have recently modified their holdings of LCID. Van ECK Associates Corp grew its position in Lucid Group by 34.0% in the 1st quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock valued at $2,558,000 after buying an additional 227,908 shares during the last quarter. Vanguard Group Inc. grew its position in Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after buying an additional 489,187 shares during the last quarter. KBC Group NV grew its position in Lucid Group by 19.2% in the 4th quarter. KBC Group NV now owns 39,171 shares of the company’s stock valued at $165,000 after buying an additional 6,323 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock valued at $1,242,000 after buying an additional 23,752 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Lucid Group by 24.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company’s stock worth $7,184,000 after purchasing an additional 334,923 shares in the last quarter. 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.