Lucid Group (NASDAQ:LCID) Trading Down 1.6% - Here's What Happened

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) fell 1.6% on Tuesday . The company traded as low as $2.69 and last traded at $2.73. 13,972,255 shares traded hands during trading, a decline of 82% from the average session volume of 76,731,984 shares. The stock had previously closed at $2.77.

Analyst Ratings Changes

Several research analysts have recently commented on LCID shares. Royal Bank of Canada decreased their target price on 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. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. Finally, R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $3.24.

Lucid Group Stock Up 1.5 %

The firm has a market cap of $9.97 billion, a price-to-earnings ratio of -2.47 and a beta of 0.93. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $2.91 and a 200-day moving average of $2.98.

Remove Ads

Institutional Trading of Lucid Group

Several hedge funds have recently added to or reduced their stakes in the business. Utah Retirement Systems raised its stake in Lucid Group by 30.0% during the 4th quarter. Utah Retirement Systems now owns 62,000 shares of the company's stock valued at $187,000 after acquiring an additional 14,300 shares in the last quarter. Northern Trust Corp raised its stake in Lucid Group by 35.8% during the 4th quarter. Northern Trust Corp now owns 5,416,585 shares of the company's stock valued at $16,358,000 after acquiring an additional 1,426,625 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Lucid Group by 18.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 312,029 shares of the company's stock valued at $942,000 after acquiring an additional 48,628 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Lucid Group by 605.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,185,199 shares of the company's stock valued at $3,579,000 after acquiring an additional 1,017,245 shares in the last quarter. Finally, Nebula Research & Development LLC raised its stake in Lucid Group by 134.9% during the 4th quarter. Nebula Research & Development LLC now owns 210,616 shares of the company's stock valued at $636,000 after acquiring an additional 120,965 shares in the last quarter. Institutional investors own 75.17% of the company's stock.

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.