Lucid Group, Inc. (NASDAQ:LCID) Given Consensus Rating of "Hold" by Analysts

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has earned an average recommendation of "Hold" from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.04.

Several research analysts have weighed in on LCID shares. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. R. F. Lafferty upgraded shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a research report on Monday, November 11th. Robert W. Baird restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada decreased their price objective on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Tuesday, November 19th.

Lucid Group Stock Performance

LCID traded down $0.01 during trading on Friday, hitting $3.07. The company's stock had a trading volume of 66,742,073 shares, compared to its average volume of 90,676,616. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The firm has a market cap of $9.25 billion, a PE ratio of -2.29 and a beta of 0.94. The business's 50 day simple moving average is $2.62 and its 200-day simple moving average is $3.05.

Insider Activity at Lucid Group

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now directly owns 8,041,393 shares of the company's stock, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 61.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in shares of Lucid Group in the 2nd quarter worth about $26,000. Frank Rimerman Advisors LLC lifted its holdings in shares of Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock worth $27,000 after acquiring an additional 9,250 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Lucid Group in the 4th quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in shares of Lucid Group by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock worth $36,000 after acquiring an additional 5,031 shares during the last quarter. Finally, Crumly & Associates Inc. bought a new stake in shares of Lucid Group in the 3rd quarter worth about $38,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.