Stock traders buy large volume of call options on Lucid Group (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID – Get Rating) was the recipient of unusually heavy options trading on Friday. Equity investors bought 142,708 call options on the company. This is an increase of 18% from the typical volume of 121,431 call options.

Lucid Group Price Performance

Shares of Lucid Group traded down 0.23 in Friday’s session, hitting 16.26. The stock had a trading volume of 1,172,654 shares, compared to an average volume of 24,250,736. The company has a market capitalization of $27.20 billion, a price-earnings ratio of -11.89 and a beta of 0.57. Lucid Group has a 12-month low at 13.25 and a 12-month high at 57.75. The company’s 50-day moving average is 17.77 and its 200-day moving average is 19.48. The company has a current ratio of 7.59, a quick ratio of 6.75 and a debt ratio of 0.54.

Lucid Group (NASDAQ:LCID – Get Rating) last released its quarterly results on Wednesday, August 3. The company reported earnings per share of -0.33 for the quarter, beating the consensus estimate of -0.44 by 0.11. The company had revenue of 97.34 million for the quarter. Lucid Group had a negative net margin of 1,030.53% and a negative return on equity of 34.45%. As a group, sell-side analysts expect Lucid Group to post -1.08 earnings per share for the current year.

Institutional entries and exits

A number of institutional investors have recently increased or reduced their stake in the company. SNS Financial Group LLC purchased a new position in shares of Lucid Group during the fourth quarter worth approximately $229,000. Nissay Asset Management Corp Japan ADV bought a new position in shares of Lucid Group during the fourth quarter, valued at approximately $1,580,000. Gotham Asset Management LLC purchased a new stake in shares of Lucid Group during the fourth quarter worth approximately $675,000. Guggenheim Capital LLC increased its holdings of Lucid Group shares by 945.8% during the fourth quarter. Guggenheim Capital LLC now owns 406,215 shares of the company worth $15,456,000 after purchasing an additional 367,371 shares during the period. Finally, Insight Advisors LLC PA increased its holdings of Lucid Group shares by 135.1% during the first quarter. Insight Advisors LLC PA now owns 19,508 shares of the company worth $496,000 after purchasing an additional 11,210 shares during the period. Institutional investors hold 70.31% of the company’s shares.

Changes to analyst ratings

Several stock analysts have recently released reports on the company. Needham & Company LLC assumed cover for Lucid Group in a report Wednesday. They issued an “underperforming” rating for the company. Citigroup reaffirmed a “buy” rating and issued a target price of $28.00 on shares of Lucid Group in a report Thursday. Finally, RF Lafferty assumed cover for Lucid Group in a report on Monday. They issued a “buy” rating and a target price of $19.00 for the company. Two investment analysts have assigned the stock a sell rating, two have assigned a hold rating and six have assigned the stock a buy rating. According to data from MarketBeat, Lucid Group currently has an average rating of “Hold” and an average price target of 30.86.

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, electric vehicle 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.

Further reading

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