Lucid Group Sees Unusually High Options Volume (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCIDGet Free Report) was the target of unusually large options trading on Tuesday. Traders acquired 164,109 call options on the stock. This represents an increase of 80% compared to the average daily volume of 90,957 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Robert W. Baird upped their price target on Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price for the company in a research report on Tuesday, March 18th. Finally, Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.68.

Get Our Latest Research Report on LCID

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Investment Counsel LLC purchased a new stake in Lucid Group during the 1st quarter valued at $25,000. HB Wealth Management LLC purchased a new stake in Lucid Group during the 1st quarter valued at $25,000. Grimes & Company Inc. purchased a new stake in Lucid Group in the first quarter worth $27,000. Integrity Alliance LLC. bought a new stake in shares of Lucid Group during the first quarter worth $27,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Down 6.4%

NASDAQ LCID opened at $2.77 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market capitalization of $8.45 billion, a P/E ratio of -2.07 and a beta of 0.88. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The stock has a 50 day moving average price of $2.46 and a 200-day moving average price of $2.57.

Lucid Group (NASDAQ:LCIDGet Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The company had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The business’s quarterly revenue was up 36.1% on a year-over-year basis. As a group, equities analysts predict that Lucid Group will post -1.25 EPS for the current fiscal year.

Lucid Group Company Profile

(Get Free Report)

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.

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