Lucid Group (NASDAQ:LCID) Trading Down 0.4%

Lucid Group, Inc. (NASDAQ:LCID) fell 0.4% on Tuesday . The company traded as low as $2.42 and last traded at $2.49. 5,016,450 shares changed hands during trading, a decline of 85% from the average session volume of 33,248,098 shares. The stock had previously closed at $2.50.

Analyst Upgrades and Downgrades

LCID has been the subject of several recent analyst reports. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Stifel Nicolaus reduced their target price on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Monday, February 26th. Robert W. Baird decreased their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley restated an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Finally, Bank of America decreased their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Lucid Group presently has an average rating of “Hold” and an average price target of $4.34.

Lucid Group Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -1.78 and a beta of 1.01. The business’s 50 day moving average price is $2.83 and its 200-day moving average price is $3.56.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm’s revenue was down 39.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) EPS. Equities analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current year.

Institutional Trading of Lucid Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. grew its stake in Lucid Group by 19.8% in the third quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company’s stock valued at $18,453,000 after purchasing an additional 546,676 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lucid Group by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company’s stock valued at $23,562,000 after buying an additional 410,025 shares in the last quarter. Fulton Bank N.A. raised its position in Lucid Group by 46.5% during the fourth quarter. Fulton Bank N.A. now owns 63,511 shares of the company’s stock valued at $267,000 after acquiring an additional 20,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Lucid Group by 10.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock valued at $48,109,000 after acquiring an additional 1,060,588 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Lucid Group by 41.8% during the 3rd quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock worth $33,466,000 after purchasing an additional 1,763,443 shares during the last quarter. Institutional investors and hedge funds 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.