Lucid Group (NASDAQ:LCID) Stock Price Down 0.3%

Lucid Group, Inc. (NASDAQ:LCID) shares traded down 0.3% on Tuesday . The company traded as low as $3.49 and last traded at $3.58. 6,253,831 shares traded hands during trading, a decline of 81% from the average session volume of 32,090,363 shares. The stock had previously closed at $3.59.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LCID. Stifel Nicolaus dropped their price objective on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. 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. Citigroup reiterated a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research note on Monday, April 22nd. Cantor Fitzgerald restated an “underweight” rating and set a $4.00 target price on shares of Lucid Group in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Lucid Group currently has a consensus rating of “Hold” and an average price target of $4.14.

Lucid Group Stock Up 5.5 %

The firm has a fifty day moving average price of $2.93 and a 200 day moving average price of $2.95. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. The company has a market cap of $7.98 billion, a P/E ratio of -2.78 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data 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 company had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. During the same quarter in the previous year, the business posted ($0.43) EPS. The company’s revenue was up 15.6% compared to the same quarter last year. Equities research analysts forecast that Lucid Group, Inc. will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its position in shares of Lucid Group by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock worth $1,391,000 after acquiring an additional 3,230 shares during the last quarter. Heritage Wealth Advisors raised its holdings in 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 purchasing an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Lucid Group by 24.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock valued at $89,000 after purchasing an additional 4,170 shares during the period. First Trust Direct Indexing L.P. grew 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 during the period. Finally, Capital Square LLC grew 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 during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.