Lucid Group (NASDAQ:LCID) Stock Price Up 3.4%

Shares of Lucid Group, Inc. (NASDAQ:LCID) were up 3.4% on Tuesday . The company traded as high as $3.94 and last traded at $3.90. Approximately 6,792,328 shares were traded during trading, a decline of 79% from the average daily volume of 32,723,631 shares. The stock had previously closed at $3.77.

Analysts Set New Price Targets

LCID has been the topic of several recent research reports. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, July 8th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Monday, September 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Stock Performance

The company has a market capitalization of $8.67 billion, a P/E ratio of -3.07 and a beta of 1.05. 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’s 50-day moving average is $3.54 and its two-hundred day moving average is $3.02.

Lucid Group (NASDAQ:LCID) last posted 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). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The company had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. During the same quarter last year, the business posted ($0.40) EPS. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. Equities analysts anticipate that Lucid Group, Inc. will post -1.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now directly 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 available through the SEC website. Company insiders own 61.26% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. DDFG Inc bought a new position in shares of Lucid Group during the fourth quarter valued at about $47,000. Private Advisor Group LLC grew its holdings in shares of Lucid Group by 36.2% in the fourth quarter. Private Advisor Group LLC now owns 121,305 shares of the company’s stock worth $511,000 after purchasing an additional 32,267 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lucid Group by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock worth $11,488,000 after buying an additional 195,519 shares during the period. Ieq Capital LLC bought a new stake in Lucid Group during the 4th quarter valued at $105,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Lucid Group by 16.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 972,301 shares of the company’s stock valued at $3,850,000 after buying an additional 134,701 shares during the period. 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.