Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shot up 0.7% on Thursday . The company traded as high as $3.16 and last traded at $3.06. 25,071,278 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 85,664,742 shares. The stock had previously closed at $3.04.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on LCID shares. Royal Bank of Canada cut their price target on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research note on Tuesday, November 19th. Cfra set a $2.00 target price on shares of Lucid Group in a research report on Thursday, October 17th. Robert W. Baird reiterated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. Finally, R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $3.04.
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Lucid Group Stock Down 0.3 %
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 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $3.05. The firm has a market capitalization of $9.25 billion, a P/E ratio of -2.29 and a beta of 0.94.
Insider Buying and Selling
In other news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction on 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 purchase, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. The trade was a -102.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 61.26% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pine Valley Investments Ltd Liability Co raised its stake in Lucid Group by 27.8% during the third 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 in the last quarter. Greenleaf Trust raised its position in shares of Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company's stock valued at $90,000 after buying an additional 4,604 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lucid Group by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock valued at $36,000 after acquiring an additional 5,031 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Lucid Group by 3.4% in the 4th quarter. SG Americas Securities LLC now owns 157,160 shares of the company's stock valued at $475,000 after acquiring an additional 5,121 shares during the last quarter. Finally, Amalgamated Bank grew its position in Lucid Group by 12.5% in the second quarter. Amalgamated Bank now owns 47,916 shares of the company's stock worth $125,000 after acquiring an additional 5,337 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.
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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