Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares were down 1.2% during mid-day trading on Thursday . The company traded as low as $2.07 and last traded at $2.15. Approximately 33,710,996 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 86,995,969 shares. The stock had previously closed at $2.17.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. R. F. Lafferty upgraded shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price for the company in a research note on Monday, November 11th. Redburn Atlantic lowered shares of Lucid Group from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Benchmark reaffirmed a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a research report on Friday. Finally, Cowen began coverage on Lucid Group in a report on Thursday, March 6th. They issued a "hold" rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.69.
Read Our Latest Stock Report on Lucid Group
Lucid Group Trading Up 0.5 %
The company has a 50 day moving average of $2.81 and a 200 day moving average of $2.89. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of -1.56 and a beta of 0.97. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.
Institutional Investors Weigh In On Lucid Group
Several institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in Lucid Group during the 4th quarter valued at about $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group during 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 approximately $31,000. DRW Securities LLC acquired a new position in shares of Lucid Group in the 4th quarter worth approximately $31,000. Finally, First National Corp MA ADV bought a new stake in Lucid Group during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.
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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