Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) traded up 13.4% during mid-day trading on Thursday . The company traded as high as $3.29 and last traded at $3.26. 62,407,233 shares were traded during mid-day trading, a decline of 19% from the average session volume of 77,363,797 shares. The stock had previously closed at $2.87.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Benchmark started coverage on shares of Lucid Group in a report on Wednesday. They issued a "buy" rating and a $5.00 price objective for the company. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a report on Friday, November 8th. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a report on Monday, November 11th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada cut 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 note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $3.24.
Check Out Our Latest Research Report on LCID
Lucid Group Stock Up 1.5 %
The stock's fifty day moving average is $2.91 and its two-hundred day moving average is $2.97. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $9.97 billion, a PE ratio of -2.47 and a beta of 0.93.
Institutional Investors Weigh In On Lucid Group
Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Lucid Group during the second quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group during the 4th quarter worth $28,000. Accredited Investors Inc. purchased a new stake in Lucid Group during the fourth quarter valued at about $30,000. Proficio Capital Partners LLC purchased a new stake in Lucid Group during the 4th quarter worth about $31,000. Finally, DRW Securities LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 75.17% of the company's stock.
About Lucid Group
(
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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