Lucid Group (NASDAQ:LCID) Shares Down 0.5% - Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) fell 0.5% during mid-day trading on Thursday . The stock traded as low as $2.14 and last traded at $2.17. 20,309,760 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 35,962,816 shares. The stock had previously closed at $2.18.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Cantor Fitzgerald reissued a "neutral" rating and set a $4.00 price objective on shares of Lucid Group in a report on Tuesday, October 8th. R. F. Lafferty upgraded shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a research report on Monday. Robert W. Baird restated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $3.00 price target on shares of Lucid Group in a report on Thursday, September 12th. One 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's stock. According to data from MarketBeat.com, Lucid Group presently has a consensus rating of "Hold" and a consensus target price of $3.27.

Lucid Group Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The business has a 50 day moving average of $3.06 and a 200 day moving average of $3.08. The company has a market cap of $4.96 billion, a PE ratio of -1.62 and a beta of 1.11.

Insider Activity

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares in the company, valued at $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost 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 in the company, valued at $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 61.26% of the company's stock.

Institutional Trading of Lucid Group

Several institutional investors have recently bought and sold shares of LCID. Vanguard Group Inc. increased its position in shares of Lucid Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company's stock valued at $238,659,000 after acquiring an additional 489,187 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Lucid Group by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company's stock valued at $7,000,000 after purchasing an additional 581,082 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Lucid Group by 42.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company's stock worth $6,951,000 after buying an additional 732,463 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Lucid Group by 6.8% during the second quarter. Rhumbline Advisers now owns 741,822 shares of the company's stock valued at $1,936,000 after purchasing an additional 46,997 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

About Lucid Group

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.

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