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

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) have earned a consensus recommendation of "Hold" from the nine analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.16.

Several analysts recently commented on LCID shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Cfra set a $2.00 price objective on Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Friday, November 8th. R. F. Lafferty raised shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a report on Monday, November 11th. Finally, Royal Bank of Canada reduced their price target on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 19th.

Lucid Group Stock Performance

NASDAQ:LCID traded up $0.10 during mid-day trading on Tuesday, hitting $3.20. The company's stock had a trading volume of 108,578,148 shares, compared to its average volume of 42,148,781. The business's fifty day moving average is $2.39 and its two-hundred day moving average is $2.99. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of -2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.49.

Insider Buying and Selling

In other Lucid Group news, Director Public Investment Fund bought 374,717,927 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 61.26% of the stock is owned by company insiders.

Institutional Trading of Lucid Group

Several institutional investors have recently added to or reduced their stakes in the stock. Pine Valley Investments Ltd Liability Co lifted its stake 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 worth $36,000 after acquiring an additional 3,549 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Lucid Group by 6.0% during the second quarter. Principal Financial Group Inc. now owns 66,004 shares of the company's stock worth $172,000 after purchasing an additional 3,715 shares in the last quarter. Greenleaf Trust increased its holdings in Lucid Group by 22.0% in the third quarter. Greenleaf Trust now owns 25,487 shares of the company's stock valued at $90,000 after buying an additional 4,604 shares during the last quarter. Amalgamated Bank increased its holdings in 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 buying an additional 5,337 shares during the last quarter. Finally, Xponance Inc. raised its stake in Lucid Group by 20.8% in the second quarter. Xponance Inc. now owns 31,938 shares of the company's stock valued at $83,000 after buying an additional 5,493 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

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.