Lucid Group Target of Unusually High Options Trading (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of some unusual options trading on Thursday. Investors acquired 107,338 call options on the stock. This represents an increase of approximately 59% compared to the average daily volume of 67,638 call options.

Insider Buying and Selling at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This trade represents a -100.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Bach sold 89,959 shares of the 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 transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 61.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co grew its holdings in Lucid Group by 34.9% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock valued at $36,000 after purchasing an additional 3,549 shares during the period. Principal Financial Group Inc. increased its holdings in Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock worth $172,000 after acquiring an additional 3,715 shares in the last quarter. Heritage Wealth Advisors raised its position in Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after acquiring an additional 4,000 shares during the period. Greenleaf Trust lifted its holdings in Lucid Group by 22.0% during the third quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after purchasing an additional 4,604 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Lucid Group by 12.5% in the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock valued at $125,000 after purchasing an additional 5,337 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Stock Performance

Shares of NASDAQ LCID traded up $0.13 during trading on Thursday, hitting $2.26. The company had a trading volume of 54,289,234 shares, compared to its average volume of 34,829,859. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. Lucid Group has a 12 month low of $2.02 and a 12 month high of $5.31. The stock has a 50 day simple moving average of $3.23 and a 200 day simple moving average of $3.09.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data 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). The company had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. Lucid Group’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) earnings per share. Equities analysts forecast that Lucid Group will post -1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 price objective on shares of Lucid Group in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. Cfra set a $2.00 price objective on shares of Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, Lucid Group presently has an average rating of “Hold” and a consensus price target of $3.54.

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.