Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) Director Public Investment Fund bought 374,717,927 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the purchase, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -100.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Lucid Group Trading Up 1.8 %
NASDAQ LCID opened at $2.24 on Tuesday. Lucid Group, Inc. has a one year low of $2.20 and a one year high of $5.31. The company has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $3.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. The firm has a market capitalization of $5.24 billion, a PE ratio of -1.85 and a beta of 1.11.
Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The company's quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share. On average, equities analysts forecast that Lucid Group, Inc. will post -1.22 earnings per share for the current year.
Analyst Upgrades and Downgrades
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Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $4.00 price target on shares of Lucid Group in a research note on Tuesday, October 8th. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research note on Wednesday, September 11th. Robert W. Baird reissued a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $3.54.
Get Our Latest Research Report on LCID
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of LCID. Norden Group LLC acquired a new position in Lucid Group during the 1st quarter valued at about $32,000. First Trust Direct Indexing L.P. boosted its stake in 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 valued at $236,000 after purchasing an additional 4,350 shares during the period. Principal Financial Group Inc. boosted its stake in Lucid Group by 32.5% during the 1st quarter. Principal Financial Group Inc. now owns 62,289 shares of the company's stock valued at $178,000 after purchasing an additional 15,286 shares during the period. Van ECK Associates Corp boosted its stake in Lucid Group by 34.0% during the 1st quarter. Van ECK Associates Corp now owns 897,379 shares of the company's stock valued at $2,558,000 after purchasing an additional 227,908 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Lucid Group by 226.4% during the 1st quarter. SG Americas Securities LLC now owns 434,444 shares of the company's stock valued at $1,238,000 after purchasing an additional 301,349 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.
About Lucid Group
(
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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