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

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 105,350 call options on the stock. This is an increase of approximately 59% compared to the average daily volume of 66,348 call options.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LCID shares. Morgan Stanley lowered Lucid Group from a “buy” rating to an “underweight” rating and cut their target price for the company from $30.00 to $10.00 in a research note on Monday, December 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Stifel Nicolaus reduced their price objective on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Monday. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $21.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LCID. US Bancorp DE grew its holdings in shares of Lucid Group by 97.0% during the first quarter. US Bancorp DE now owns 19,374 shares of the company’s stock valued at $47,000 after buying an additional 9,539 shares during the last quarter. Vanguard Group Inc. lifted its position in Lucid Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 110,933,835 shares of the company’s stock worth $268,460,000 after acquiring an additional 615,108 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Lucid Group by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,740,395 shares of the company’s stock valued at $16,312,000 after purchasing an additional 144,694 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Lucid Group by 5.8% in the first quarter. Deutsche Bank AG now owns 102,587 shares of the company’s stock valued at $248,000 after purchasing an additional 5,661 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Lucid Group by 26.9% in the first quarter. Swiss National Bank now owns 2,334,000 shares of the company’s stock valued at $5,648,000 after purchasing an additional 495,000 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Trading Down 3.4%

Lucid Group stock opened at $11.13 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81. The stock has a market cap of $3.61 billion, a PE ratio of -1.04 and a beta of 0.86. The stock has a 50-day moving average of $15.83 and a two-hundred day moving average of $20.16. Lucid Group has a one year low of $11.09 and a one year high of $36.40.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($2.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.32) by ($0.33). The company had revenue of $336.58 million for the quarter, compared to analyst estimates of $378.44 million. Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The business’s revenue was up 68.3% compared to the same quarter last year. During the same quarter last year, the company earned ($2.76) EPS. On average, research analysts anticipate that Lucid Group will post -1.25 EPS for the current fiscal year.

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.