Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shares traded down 4.3% during trading on Monday . The company traded as low as $2.85 and last traded at $2.89. 25,648,130 shares were traded during trading, a decline of 72% from the average session volume of 92,228,094 shares. The stock had previously closed at $3.02.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Royal Bank of Canada lowered their price target on 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 shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Cfra set a $2.00 price objective on Lucid Group in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $3.04.
Get Our Latest Stock Report on Lucid Group
Lucid Group Stock Performance
The stock's 50 day simple moving average is $2.57 and its two-hundred day simple moving average is $3.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The stock has a market cap of $9.16 billion, a P/E ratio of -2.27 and a beta of 0.94.
Insiders Place Their Bets
In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 61.26% of the company's stock.
Institutional Trading of Lucid Group
A number of large investors have recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co lifted its holdings in Lucid Group by 27.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company's stock valued at $62,000 after purchasing an additional 3,816 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company's stock worth $90,000 after buying an additional 4,604 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Lucid Group by 73.7% during the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock worth $36,000 after buying an additional 5,031 shares during the period. Amalgamated Bank grew its stake in Lucid Group by 12.5% in the 2nd quarter. Amalgamated Bank now owns 47,916 shares of the company's stock valued at $125,000 after buying an additional 5,337 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Lucid Group by 20.8% in the 2nd quarter. Xponance Inc. now owns 31,938 shares of the company's stock valued at $83,000 after acquiring an additional 5,493 shares during the period. Institutional investors and hedge funds own 75.17% of the company's stock.
Lucid Group Company Profile
(
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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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