Stock Traders Purchase Large Volume of Call Options on Lucid Group (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the target of some unusual options trading on Thursday. Stock traders purchased 107,338 call options on the stock. This represents an increase of 59% compared to the average daily volume of 67,638 call options.

Wall Street Analysts Forecast Growth

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

Lucid Group Stock Up 4.2 %

Shares of NASDAQ:LCID opened at $2.22 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. Lucid Group has a 52-week low of $2.02 and a 52-week high of $5.31. The company has a fifty day moving average of $3.23 and a 200-day moving average of $3.09.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The firm had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. During the same period in the previous year, the business posted ($0.40) earnings per share. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. Analysts forecast that Lucid Group will post -1.22 EPS for the current year.

Insider Activity at Lucid Group

In other news, Director Public Investment Fund acquired 374,717,927 shares of the stock in a transaction 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 transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed 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 stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now directly owns 2,028,268 shares in the company, valued at $6,368,761.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 61.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lucid Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caprock Group LLC lifted its holdings in shares of Lucid Group by 7.4% during the third quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock worth $671,000 after purchasing an additional 13,159 shares during the period. Axim Planning & Wealth bought a new position in Lucid Group during the 3rd quarter worth $48,000. Crumly & Associates Inc. acquired a new position in Lucid Group during the 3rd quarter worth about $38,000. Latko Wealth Management Ltd. bought a new stake in shares of Lucid Group in the 3rd quarter valued at about $39,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Lucid Group in the third quarter valued at about $192,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.