Lucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s share price traded up 7.6% during trading on Thursday . The stock traded as high as $3.57 and last traded at $3.53. 14,192,759 shares were traded during trading, a decline of 56% from the average session volume of 32,156,352 shares. The stock had previously closed at $3.28.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Robert W. Baird restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, July 8th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Cantor Fitzgerald restated an “underweight” rating and set a $4.00 price target on shares of Lucid Group in a research note on Monday. Stifel Nicolaus cut their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Citigroup restated a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, Lucid Group currently has an average rating of “Hold” and a consensus target price of $4.14.
Read Our Latest Analysis on LCID
Lucid Group Trading Up 7.6 %
Lucid Group (NASDAQ:LCID – Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The company had revenue of $172.74 million for the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) EPS. On average, research analysts forecast that Lucid Group, Inc. will post -1.17 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lucid Group
Large investors have recently added to or reduced their stakes in the business. Accredited Investors Inc. purchased a new position in Lucid Group during the second quarter worth about $27,000. GAMMA Investing LLC purchased a new position in Lucid Group during the fourth quarter worth about $28,000. Meeder Advisory Services Inc. purchased a new position in Lucid Group during the first quarter worth about $29,000. Norden Group LLC purchased a new position in Lucid Group during the first quarter worth about $32,000. Finally, Heritage Wealth Advisors lifted its position in Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after buying an additional 4,000 shares during the period. 75.17% of the stock is currently owned by hedge funds and other institutional investors.
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.
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