Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shot up 0.9% on Thursday . The company traded as high as $3.04 and last traded at $2.94. 29,277,328 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 79,218,977 shares. The stock had previously closed at $2.91.
Wall Street Analyst Weigh In
LCID has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. Royal Bank of Canada dropped their price target on 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. Cfra set a $2.00 price objective on shares of Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group presently has an average rating of "Hold" and a consensus target price of $3.04.
Check Out Our Latest Stock Analysis on LCID
Lucid Group Stock Performance
The company's 50-day simple moving average is $2.84 and its 200 day simple moving average is $2.98. The stock has a market cap of $8.12 billion, a P/E ratio of -2.01 and a beta of 0.93. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of LCID. Sanctuary Advisors LLC bought a new stake in shares of Lucid Group in the second quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in Lucid Group in the 4th quarter worth about $28,000. Proficio Capital Partners LLC purchased a new position in Lucid Group in the 4th quarter worth approximately $31,000. First National Corp MA ADV bought a new stake in shares of Lucid Group during the 4th quarter worth $32,000. Finally, Yousif Capital Management LLC purchased a new position in Lucid Group in the fourth quarter worth $32,000. 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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