Lucid Group, Inc. (NASDAQ:LCID) Short Interest Update

Lucid Group, Inc. (NASDAQ:LCIDGet Rating) was the recipient of a significant growth in short interest in December. As of December 30th, there was short interest totalling 167,300,000 shares, a growth of 6.5% from the December 15th total of 157,070,000 shares. Based on an average daily trading volume, of 25,490,000 shares, the short-interest ratio is presently 6.6 days. Currently, 34.8% of the company’s stock are sold short.

Insider Buying and Selling at Lucid Group

In other Lucid Group news, SVP Michael Bell sold 12,574 shares of the firm’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $8.57, for a total value of $107,759.18. Following the transaction, the senior vice president now directly owns 1,261,950 shares of the company’s stock, valued at $10,814,911.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Lucid Group news, Director Public Investment Fund acquired 85,712,679 shares of the company’s stock in a transaction on Thursday, December 22nd. The shares were purchased at an average cost of $10.68 per share, with a total value of $915,411,411.72. Following the completion of the purchase, the director now owns 1,100,965,202 shares of the company’s stock, valued at $11,758,308,357.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Bell sold 12,574 shares of the firm’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $8.57, for a total transaction of $107,759.18. Following the completion of the transaction, the senior vice president now directly owns 1,261,950 shares in the company, valued at $10,814,911.50. The disclosure for this sale can be found here. Insiders own 62.50% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in shares of Lucid Group by 67.6% in the first quarter. US Bancorp DE now owns 14,017 shares of the company’s stock valued at $356,000 after acquiring an additional 5,654 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Lucid Group by 16.3% in the first quarter. PNC Financial Services Group Inc. now owns 19,005 shares of the company’s stock valued at $482,000 after acquiring an additional 2,661 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Lucid Group during the first quarter worth approximately $383,000. BlackRock Inc. raised its stake in shares of Lucid Group by 23.7% during the first quarter. BlackRock Inc. now owns 15,623,711 shares of the company’s stock worth $396,842,000 after acquiring an additional 2,990,659 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in shares of Lucid Group during the first quarter worth approximately $400,000.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Lucid Group in a report on Tuesday, September 27th. They issued an “overweight” rating and a $23.00 target price for the company. Morgan Stanley lowered their target price on shares of Lucid Group from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, November 10th. R. F. Lafferty lowered their target price on shares of Lucid Group from $19.00 to $17.00 in a report on Thursday, November 10th. Citigroup assumed coverage on shares of Lucid Group in a report on Sunday. They issued a “buy” rating and a $12.00 target price for the company. Finally, Evercore ISI assumed coverage on shares of Lucid Group in a report on Tuesday, November 29th. They issued an “in-line” rating and a $12.00 target price for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Lucid Group Stock Performance

NASDAQ LCID opened at $7.82 on Monday. Lucid Group has a 52-week low of $6.09 and a 52-week high of $39.98. The company has a 50-day simple moving average of $8.41 and a 200 day simple moving average of $13.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.21 and a current ratio of 5.04. The company has a market capitalization of $13.14 billion, a PE ratio of -5.51 and a beta of 0.67.

Lucid Group (NASDAQ:LCIDGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.07). Lucid Group had a negative return on equity of 39.15% and a negative net margin of 498.19%. The company had revenue of $195.46 million for the quarter, compared to analysts’ expectations of $232.50 million. On average, research analysts predict that Lucid Group will post -1.11 EPS for the current year.

About Lucid Group

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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