Lucid Group (NASDAQ:LCID) Stock Price Down 1.1%

Shares of Lucid Group, Inc. (NASDAQ:LCID) were down 1.1% during mid-day trading on Friday . The company traded as low as $3.56 and last traded at $3.59. Approximately 7,526,989 shares traded hands during trading, a decline of 77% from the average daily volume of 32,713,670 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LCID shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Tuesday, August 6th. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, July 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Trading Down 1.7 %

The firm has a market capitalization of $8.24 billion, a PE ratio of -2.81 and a beta of 1.05. 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 company has a fifty day moving average of $3.44 and a 200-day moving average of $3.00.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The firm had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period last year, the business earned ($0.40) earnings per share. On average, sell-side analysts anticipate that Lucid Group, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the stock in a transaction 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 transaction, the senior vice president now owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 227,908 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lucid Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after purchasing an additional 489,187 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lucid Group by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock worth $11,488,000 after buying an additional 195,519 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of Lucid Group during the 4th quarter worth $105,000. Finally, Private Advisor Group LLC grew its stake in Lucid Group by 36.2% in the 4th quarter. Private Advisor Group LLC now owns 121,305 shares of the company’s stock valued at $511,000 after buying an additional 32,267 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

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.