Lucid Group (NASDAQ:LCID) Trading Down 0.3% - Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) fell 0.3% during trading on Monday . The company traded as low as $3.06 and last traded at $3.07. 66,742,073 shares were traded during trading, a decline of 26% from the average session volume of 90,676,616 shares. The stock had previously closed at $3.08.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LCID shares. Cfra set a $2.00 price target 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 Friday, November 8th. Royal Bank of Canada lowered their price objective on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research note on Tuesday, November 19th. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a report on Monday, November 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $3.04.

Lucid Group Stock Performance

The firm has a 50 day moving average of $2.62 and a 200-day moving average of $3.05. The company has a market cap of $9.25 billion, a P/E ratio of -2.29 and a beta of 0.94. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

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Insider Transactions at Lucid Group

In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the transaction, the director now owns 8,041,393 shares of the company's stock, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 61.26% of the company's stock.

Hedge Funds Weigh In On Lucid Group

A number of large investors have recently bought and sold shares of the business. Frank Rimerman Advisors LLC lifted its position in shares of Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company's stock valued at $27,000 after buying an additional 9,250 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Lucid Group in the second quarter valued at approximately $26,000. Crumly & Associates Inc. acquired a new position in shares of Lucid Group during the third quarter worth $38,000. Wedge Capital Management L L P NC purchased a new stake in shares of Lucid Group during the 4th quarter valued at $33,000. Finally, Latko Wealth Management Ltd. acquired a new stake in shares of Lucid Group in the 3rd quarter worth $39,000. Institutional investors 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.