Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price was down 5.8% during mid-day trading on Friday . The company traded as low as $2.06 and last traded at $2.19. Approximately 44,111,098 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 57,358,748 shares. The stock had previously closed at $2.32.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Benchmark reissued a "buy" rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. TD Cowen assumed coverage on shares of Lucid Group in a research report on Friday, March 7th. They issued a "hold" rating and a $2.30 price objective for the company. Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price objective on the stock in a research report on Tuesday, March 18th. Finally, Cowen began coverage on Lucid Group in a research report on Thursday, March 6th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Lucid Group presently has an average rating of "Hold" and an average price target of $2.69.
Check Out Our Latest Stock Report on LCID
Lucid Group Price Performance
The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of -1.83 and a beta of 0.88. The company has a 50-day moving average price of $2.56 and a 200-day moving average price of $2.69.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group during the fourth quarter worth $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the 4th quarter worth $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group during the fourth quarter worth about $31,000. DRW Securities LLC acquired a new position in Lucid Group in the fourth quarter valued at about $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.
About Lucid Group
(
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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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