Lucid Group (NASDAQ:LCID) Trading 0.4% Higher

Lucid Group, Inc. (NASDAQ:LCID) shares traded up 0.4% during trading on Tuesday . The company traded as high as $2.73 and last traded at $2.65. 7,400,476 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 29,735,807 shares. The stock had previously closed at $2.64.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “underweight” rating and issued a $4.00 price target on shares of Lucid Group in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Tuesday, May 7th. Stifel Nicolaus decreased their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Citigroup reiterated a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.24.

Lucid Group Stock Performance

The firm has a market cap of $6.21 billion, a P/E ratio of -2.09 and a beta of 1.04. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average is $2.70 and its two-hundred day moving average is $3.05.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The business had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. During the same period in the previous year, the business posted ($0.43) EPS. Lucid Group’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina lifted its position in Lucid Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after acquiring an additional 3,230 shares in the last quarter. Heritage Wealth Advisors lifted its position in shares of Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after buying an additional 4,000 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Lucid Group by 24.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock worth $89,000 after buying an additional 4,170 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Lucid Group by 5.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 82,922 shares of the company’s stock worth $236,000 after buying an additional 4,350 shares in the last quarter. Finally, Capital Square LLC lifted its position in shares of Lucid Group by 34.7% during the 4th quarter. Capital Square LLC now owns 18,615 shares of the company’s stock worth $78,000 after buying an additional 4,800 shares in the last quarter. 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.