Lucid Group (NASDAQ:LCID) Trading 0.4% Higher

Lucid Group, Inc. (NASDAQ:LCID) traded up 0.4% during trading on Friday . The company traded as high as $2.46 and last traded at $2.45. 4,756,135 shares were traded during mid-day trading, a decline of 86% from the average session volume of 34,577,777 shares. The stock had previously closed at $2.44.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LCID shares. Stifel Nicolaus lowered their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Cantor Fitzgerald downgraded shares of Lucid Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Robert W. Baird reduced their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Finally, Bank of America lowered their target price on shares of 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 analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.80.

Lucid Group Stock Performance

The firm has a market cap of $5.68 billion, a PE ratio of -1.75 and a beta of 1.01. The business has a 50 day simple moving average of $2.98 and a two-hundred day simple moving average of $3.72. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43.

Lucid Group (NASDAQ:LCID) last posted 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 company had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The company’s quarterly revenue was down 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) EPS. As a group, equities research analysts forecast that Lucid Group, Inc. will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of Lucid Group

Large investors have recently modified their holdings of the company. Azzad Asset Management Inc. ADV bought a new stake in Lucid Group during the 1st quarter valued at $91,000. True North Advisors LLC raised its holdings in shares of Lucid Group by 43.0% in the first quarter. True North Advisors LLC now owns 54,871 shares of the company’s stock valued at $156,000 after acquiring an additional 16,501 shares in the last quarter. Ballentine Partners LLC lifted its stake in Lucid Group by 154.2% in the first quarter. Ballentine Partners LLC now owns 28,693 shares of the company’s stock worth $82,000 after acquiring an additional 17,405 shares during the period. Wedmont Private Capital bought a new position in Lucid Group during the 1st quarter worth about $136,000. Finally, HighPoint Advisor Group LLC purchased a new position in Lucid Group during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors 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.