Short Interest in Lucid Group, Inc. (NASDAQ:LCID) Decreases By 19.4%

Lucid Group, Inc. (NASDAQ:LCID) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 220,480,000 shares, a decrease of 19.4% from the December 31st total of 273,660,000 shares. Based on an average daily trading volume, of 80,300,000 shares, the short-interest ratio is currently 2.7 days. Currently, 18.8% of the company’s stock are short sold.

Analyst Ratings Changes

LCID has been the topic of a number of recent research reports. Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. Royal Bank of Canada cut their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.04.

Institutional Trading of Lucid Group

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares in the last quarter. Point72 Italy S.r.l. acquired a new position in shares of Lucid Group in the third quarter valued at about $3,209,000. Van ECK Associates Corp increased its position in Lucid Group by 103.3% during the fourth quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company’s stock worth $3,764,000 after acquiring an additional 633,410 shares during the period. Lecap Asset Management Ltd. acquired a new stake in Lucid Group in the 4th quarter worth about $861,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock valued at $771,000 after purchasing an additional 249,500 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Down 3.6 %

NASDAQ:LCID opened at $2.67 on Thursday. The firm’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $3.03. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). The company had revenue of $200.04 million during the quarter, compared to analyst estimates of $199.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. During the same quarter last year, the company posted ($0.28) EPS. On average, analysts anticipate that Lucid Group will post -1.25 EPS for the current year.

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.