Lucid Group (NASDAQ:LCID) Stock Price Down 1.2% - Time to Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) fell 1.2% on Friday . The company traded as low as $2.45 and last traded at $2.51. 12,654,970 shares changed hands during trading, a decline of 68% from the average session volume of 40,097,863 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

A number of research firms have commented on LCID. Needham & Company LLC reissued 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 report on Thursday, October 17th. Royal Bank of Canada lowered their target price 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. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target for the company in a research note on Monday, November 11th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Lucid Group presently has an average rating of "Hold" and a consensus target price of $3.16.

Lucid Group Trading Down 1.2 %

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 company has a market cap of $7.56 billion, a price-to-earnings ratio of -1.87 and a beta of 1.08. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $2.99.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund bought 374,717,927 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the acquisition, the director now owns 8,041,393 shares of the company's stock, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Italy S.r.l. bought a new position in shares of Lucid Group during the third quarter worth about $3,209,000. Main Management ETF Advisors LLC bought a new position in Lucid Group during the third quarter valued at about $863,000. Charles Schwab Investment Management Inc. grew its stake in shares of Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the period. CWM LLC grew its position in Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company's stock valued at $121,000 after acquiring an additional 6,771 shares during the period. Finally, Centiva Capital LP bought a new stake in Lucid Group during the 3rd quarter worth approximately $824,000. 75.17% of the stock is currently owned by 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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