Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was up 1.8% during trading on Friday . The company traded as high as $2.21 and last traded at $2.21. Approximately 11,084,492 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 37,385,211 shares. The stock had previously closed at $2.17.
Wall Street Analysts Forecast Growth
LCID has been the topic of several analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Cantor Fitzgerald reissued a "neutral" rating and set a $4.00 price objective on shares of Lucid Group in a research note on Tuesday, October 8th. Royal Bank of Canada lowered their target price on shares of 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. R. F. Lafferty raised shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. Finally, Robert W. Baird restated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Lucid Group has a consensus rating of "Hold" and an average price target of $3.16.
View Our Latest Stock Report on Lucid Group
Lucid Group Stock Up 0.5 %
The firm has a market capitalization of $6.57 billion, a P/E ratio of -1.63 and a beta of 1.11. 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's 50-day moving average is $2.71 and its 200 day moving average is $3.03.
Insider Activity
In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost 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 of the company's stock, valued at $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 61.26% of the company's stock.
Institutional Trading of Lucid Group
A number of institutional investors have recently made changes to their positions in LCID. Charles Schwab Investment Management Inc. increased its stake in Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock valued at $17,991,000 after buying an additional 2,335,452 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Lucid Group by 27.7% in the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company's stock valued at $7,000,000 after acquiring an additional 581,082 shares during the last quarter. Point72 Italy S.r.l. acquired a new stake in shares of Lucid Group in the third quarter valued at about $3,209,000. Rhumbline Advisers boosted its position in Lucid Group by 6.8% during the second quarter. Rhumbline Advisers now owns 741,822 shares of the company's stock valued at $1,936,000 after purchasing an additional 46,997 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Lucid Group by 946.6% in the first quarter. Janus Henderson Group PLC now owns 524,662 shares of the company's stock valued at $1,493,000 after purchasing an additional 474,534 shares in the last quarter. 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.
Further Reading
Before you consider Lucid Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lucid Group wasn't on the list.
While Lucid Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
