Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price rose 3.2% during trading on Friday . The stock traded as high as $3.42 and last traded at $3.37. Approximately 32,065,922 shares traded hands during trading, a decline of 59% from the average daily volume of 78,773,313 shares. The stock had previously closed at $3.26.
Analysts Set New Price Targets
A number of analysts recently weighed in on LCID shares. Royal Bank of Canada cut their price objective on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Tuesday, November 19th. Benchmark began coverage on Lucid Group in a report on Wednesday, February 12th. They set a "buy" rating and a $5.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Friday, November 8th. Cantor Fitzgerald restated 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 price target for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $3.24.
Read Our Latest Research Report on LCID
Lucid Group Stock Up 1.5 %
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 cap of $9.97 billion, a P/E ratio of -2.47 and a beta of 0.93. The stock has a 50 day moving average price of $2.92 and a 200 day moving average price of $2.97.
Institutional Investors Weigh In On Lucid Group
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group in the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. bought a new stake in Lucid Group during the fourth quarter worth approximately $28,000. Accredited Investors Inc. acquired a new position in Lucid Group in the fourth quarter worth approximately $30,000. Proficio Capital Partners LLC bought a new position in shares of Lucid Group in the fourth quarter valued at $31,000. Finally, DRW Securities LLC bought a new position in shares of Lucid Group in the fourth quarter valued at $31,000. 75.17% of the stock is currently owned by institutional investors.
Lucid Group Company Profile
(
Get Free Report)
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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