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

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 105,350 call options on the company. This represents an increase of 59% compared to the typical daily volume of 66,348 call options.

Wall Street Analyst Weigh In

Several research firms have commented on LCID. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a report on Monday, December 8th. Morgan Stanley lowered Lucid Group from a “buy” rating to an “underweight” rating and dropped their target price for the company from $30.00 to $10.00 in a report on Monday, December 8th. Stifel Nicolaus decreased their price target on Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a report on Monday, November 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $21.54.

Institutional Trading of Lucid Group

Hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its holdings in Lucid Group by 26.9% during the first quarter. Swiss National Bank now owns 2,334,000 shares of the company’s stock worth $5,648,000 after purchasing an additional 495,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 615,108 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Lucid Group by 11.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 340,533 shares of the company’s stock worth $719,000 after buying an additional 34,116 shares in the last quarter. HBK Investments L P acquired a new stake in Lucid Group in the 2nd quarter valued at about $2,658,000. Finally, Highbridge Capital Management LLC purchased a new position in Lucid Group during the 2nd quarter valued at about $3,245,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Performance

Shares of NASDAQ:LCID traded down $0.19 on Tuesday, reaching $11.63. The company’s stock had a trading volume of 2,225,022 shares, compared to its average volume of 11,028,058. The stock has a market capitalization of $3.77 billion, a P/E ratio of -1.09 and a beta of 0.87. Lucid Group has a 52-week low of $11.46 and a 52-week high of $36.40. The stock’s 50-day moving average is $16.27 and its two-hundred day moving average is $20.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34.

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