Lucid Group (NASDAQ:LCID) Trading 1.8% Higher

Lucid Group, Inc. (NASDAQ:LCID)’s stock price rose 1.8% on Friday . The stock traded as high as $4.08 and last traded at $3.98. Approximately 7,827,469 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 32,816,227 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

Several brokerages have commented on LCID. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, July 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research note on Monday, September 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday. 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.com, the company presently has a consensus rating of “Hold” and an average price target of $3.71.

Lucid Group Stock Performance

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 business has a 50 day moving average price of $3.53 and a 200 day moving average price of $3.02. The stock has a market capitalization of $9.09 billion, a PE ratio of -3.10 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share 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 the consensus estimate of $190.30 million. During the same quarter in the prior year, the business posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. As a group, equities research analysts expect that Lucid Group, Inc. will post -1.22 earnings per share for the current year.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 2,028,268 shares in the company, valued at $6,368,761.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 61.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LCID. Sanctuary Advisors LLC bought a new stake in shares of Lucid Group during the 2nd quarter valued at about $26,000. Accredited Investors Inc. purchased a new stake in shares of Lucid Group in the second quarter worth $27,000. Frank Rimerman Advisors LLC raised its position in shares of Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares during the period. Meeder Advisory Services Inc. purchased a new position in shares of Lucid Group during the 1st quarter valued at $29,000. Finally, Norden Group LLC bought a new position in Lucid Group in the 1st quarter worth $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.