Lucid Group (NASDAQ:LCID) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $3.00 target price on the stock.

LCID has been the subject of several other research reports. Robert W. Baird reissued a neutral rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, July 8th. Cantor Fitzgerald reissued a neutral rating and issued a $4.00 price objective on shares of Lucid Group in a report on Monday, September 9th. Finally, Needham & Company LLC reissued a hold rating on shares of Lucid Group in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, Lucid Group has a consensus rating of Hold and an average target price of $3.71.

Lucid Group Trading Up 0.8 %

Shares of Lucid Group stock opened at $3.94 on Thursday. Lucid Group has a 1 year low of $2.29 and a 1 year high of $6.12. The firm has a market cap of $9.09 billion, a PE ratio of -3.10 and a beta of 1.05. The stock has a fifty day moving average price of $3.53 and a 200-day moving average price of $3.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. During the same period in the prior year, the business earned ($0.40) earnings per share. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. Equities research analysts anticipate that Lucid Group will post -1.22 EPS for the current year.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the sale, the senior vice president now owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in Lucid Group by 34.0% in the 1st quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock worth $2,558,000 after buying an additional 227,908 shares during the last quarter. Vanguard Group Inc. lifted its position in Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after buying an additional 489,187 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lucid Group by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock worth $11,488,000 after buying an additional 195,519 shares during the last quarter. Ieq Capital LLC bought a new stake in Lucid Group in the 4th quarter worth approximately $105,000. Finally, Private Advisor Group LLC increased its stake in Lucid Group by 36.2% in the 4th quarter. Private Advisor Group LLC now owns 121,305 shares of the company’s stock worth $511,000 after purchasing an additional 32,267 shares during the period. Institutional investors own 75.17% of the company’s stock.

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.