Lucid Group, Inc. (NASDAQ:LCID – Get 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
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:LCID – Get 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
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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