Lucid Group (NASDAQ:LCID) Trading Up 1% - Here's What Happened

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s stock price traded up 1% on Friday . The stock traded as high as $2.48 and last traded at $2.48. 15,261,969 shares were traded during trading, a decline of 84% from the average session volume of 95,282,070 shares. The stock had previously closed at $2.45.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America lowered shares of Lucid Group from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their target price on Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Thursday, April 3rd. Cowen initiated coverage on shares of Lucid Group in a research report on Thursday, March 6th. They issued a "hold" rating for the company. Finally, Robert W. Baird upped their target price on Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $2.68.

Lucid Group Trading Up 2.0 %

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 firm has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $2.58. The firm has a market capitalization of $7.58 billion, a P/E ratio of -1.87 and a beta of 0.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LCID. B. Riley Wealth Advisors Inc. boosted its holdings in Lucid Group by 14.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 65,191 shares of the company's stock valued at $226,000 after purchasing an additional 8,074 shares during the period. Pine Valley Investments Ltd Liability Co grew its holdings in shares of 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. GAMMA Investing LLC increased its stake in shares of Lucid Group by 73.7% in the fourth 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. Everence Capital Management Inc. bought a new stake in Lucid Group in the fourth quarter worth $151,000. Finally, Fermata Advisors LLC bought a new position in shares of Lucid Group during the fourth quarter valued at $144,000. Hedge funds and other institutional investors own 75.17% of the company's stock.

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.