Lucid Group (LCID) Set to Announce Earnings on Thursday

Lucid Group (NASDAQ:LCID) will be issuing 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 that wish to register for the company’s conference call can do so using this link.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue was up 32.9% compared to the same quarter last year. 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 0.4 %

NASDAQ:LCID opened at $2.25 on Wednesday. Lucid Group has a one year low of $2.20 and a one year high of $5.31. The company’s 50-day simple moving average is $3.30 and its 200 day simple moving average is $3.09. The firm has a market capitalization of $5.26 billion, a P/E ratio of -1.86 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45.

Insider Activity

In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the purchase, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. The trade was a -100.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Public Investment Fund bought 374,717,927 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the purchase, the director now owns 8,041,393 shares in the company, valued at $20,827,207.87. This represents a -100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 61.26% of the company’s stock.

Analysts Set New Price Targets

LCID has been the topic of several recent research reports. Robert W. Baird restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. One 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 an average price target 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.