Lucid Group (NASDAQ:LCID) Trading 1.5% Higher

Shares of Lucid Group, Inc. (NASDAQ:LCID) were up 1.5% during mid-day trading on Monday . The stock traded as high as $4.08 and last traded at $4.02. Approximately 30,259,301 shares changed hands during trading, a decline of 8% from the average daily volume of 32,805,566 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a research report on Friday, August 16th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a report on Monday, August 19th. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, July 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Trading Up 1.5 %

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 company has a market cap of $9.27 billion, a P/E ratio of -3.17 and a beta of 1.04. The business has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $2.99.

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

Insider Activity at Lucid Group

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the company’s 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LCID. Accredited Investors Inc. bought a new position in shares of Lucid Group during the second quarter worth $27,000. Frank Rimerman Advisors LLC grew its stake in Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after acquiring an additional 9,250 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Lucid Group during the fourth quarter worth about $28,000. Meeder Advisory Services Inc. bought a new position in shares of Lucid Group during the 1st quarter valued at about $29,000. Finally, Norden Group LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at approximately $32,000. Institutional investors own 75.17% of the company’s stock.

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.