Lucid Group (NASDAQ:LCID) Stock Price Up 0.6% – What’s Next?

Lucid Group, Inc. (NASDAQ:LCID) shares were up 0.6% during mid-day trading on Wednesday . The company traded as high as $3.33 and last traded at $3.29. Approximately 5,592,466 shares were traded during trading, a decline of 83% from the average daily volume of 32,237,746 shares. The stock had previously closed at $3.27.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LCID shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.71.

Lucid Group Stock Performance

The stock has a 50-day moving average price of $3.54 and a 200-day moving average price of $3.10. 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 capitalization of $7.52 billion, a PE ratio of -2.59 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last released its earnings results 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 for 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 business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) earnings per share. On average, research analysts expect that Lucid Group, Inc. will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the transaction, the senior vice president now directly owns 2,028,268 shares in the company, 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 is accessible through this link. Company insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Several institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group in the 2nd quarter valued at about $26,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the second quarter worth about $27,000. Frank Rimerman Advisors LLC raised its stake in Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after acquiring an additional 9,250 shares during the period. Meeder Advisory Services Inc. acquired a new stake in Lucid Group during the first quarter worth about $29,000. Finally, Norden Group LLC acquired a new stake in Lucid Group during the first quarter worth about $32,000. 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.