Lucid Group (LCID) to Release Quarterly Earnings on Thursday

Lucid Group (NASDAQ:LCID) is scheduled to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.32) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) 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 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 for the quarter was up 32.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) earnings per share. On average, analysts expect Lucid Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Lucid Group Trading Up 1.8 %

Lucid Group stock opened at $2.24 on Tuesday. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $3.30 and a two-hundred day moving average price of $3.09. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -1.85 and a beta of 1.11. Lucid Group has a 52-week low of $2.20 and a 52-week high of $5.31.

Insider Activity at Lucid Group

In other Lucid Group news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Lucid Group news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eric Bach sold 89,959 shares of the 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 directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 61.26% of the company’s stock.

Analysts Set New Price Targets

LCID has been the subject of a number of analyst reports. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and an average target price of $3.54.

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.