Lucid Group, Inc. (NASDAQ:LCID) SVP Michael Bell Sells 46,735 Shares of Stock

Lucid Group, Inc. (NASDAQ:LCID) SVP Michael Bell sold 46,735 shares of Lucid Group stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $6.01, for a total value of $280,877.35. Following the completion of the transaction, the senior vice president now owns 1,437,293 shares of the company’s stock, valued at approximately $8,638,130.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Lucid Group Trading Down 4.7 %

LCID opened at $5.64 on Tuesday. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of -3.74 and a beta of 1.05. The stock’s 50 day moving average price is $6.57 and its 200-day moving average price is $7.08. Lucid Group, Inc. has a one year low of $5.46 and a one year high of $17.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 6.11 and a current ratio of 7.07.

Lucid Group (NASDAQ:LCID) last released its earnings results on Monday, August 7th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). The business had revenue of $150.90 million for the quarter, compared to the consensus estimate of $181.58 million. Lucid Group had a negative net margin of 337.97% and a negative return on equity of 64.02%. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) EPS. On average, equities analysts forecast that Lucid Group, Inc. will post -1.51 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LCID shares. Needham & Company LLC reduced their price objective on Lucid Group from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Robert W. Baird started coverage on Lucid Group in a research note on Tuesday, September 5th. They set a “neutral” rating and a $7.00 price objective on the stock. BNP Paribas cut Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $6.50 to $5.00 in a research note on Friday, August 11th. Royal Bank of Canada started coverage on Lucid Group in a research note on Friday, September 8th. They set a “sector perform” rating and a $6.00 price objective on the stock. Finally, Citigroup reduced their price objective on Lucid Group from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Lucid Group has a consensus rating of “Hold” and an average target price of $8.15.

Institutional Trading of Lucid Group

A number of large investors have recently modified their holdings of LCID. BlackRock Inc. boosted its holdings in shares of Lucid Group by 32.0% in the second quarter. BlackRock Inc. now owns 45,330,425 shares of the company’s stock valued at $312,327,000 after purchasing an additional 10,991,369 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Lucid Group by 36.7% in the first quarter. Vanguard Group Inc. now owns 38,737,522 shares of the company’s stock valued at $983,933,000 after purchasing an additional 10,400,923 shares during the period. State Street Corp boosted its holdings in shares of Lucid Group by 80.9% in the second quarter. State Street Corp now owns 10,822,778 shares of the company’s stock valued at $185,719,000 after purchasing an additional 4,841,301 shares during the period. Norges Bank purchased a new stake in shares of Lucid Group in the fourth quarter valued at approximately $29,347,000. Finally, Geode Capital Management LLC lifted its holdings in Lucid Group by 25.8% during the second quarter. Geode Capital Management LLC now owns 12,537,872 shares of the company’s stock worth $86,237,000 after buying an additional 2,569,226 shares during the period.

About Lucid Group

Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.