Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shot up 11.7% on Tuesday . The company traded as high as $2.48 and last traded at $2.41. 74,279,606 shares traded hands during trading, an increase of 40% from the average session volume of 52,938,600 shares. The stock had previously closed at $2.16.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Cowen started coverage on Lucid Group in a report on Thursday, March 6th. They set a "hold" rating on the stock. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target on the stock in a report on Tuesday, March 18th. TD Cowen assumed coverage on Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Lucid Group presently has a consensus rating of "Hold" and an average target price of $2.69.
Read Our Latest Research Report on LCID
Lucid Group Stock Up 6.1 %
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 stock has a 50 day moving average price of $2.67 and a 200 day moving average price of $2.79. The company has a market cap of $7.34 billion, a P/E ratio of -1.81 and a beta of 0.97.
Institutional Trading of Lucid Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group during the fourth quarter worth $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group during the fourth quarter worth $31,000. DRW Securities LLC acquired a new stake in shares of Lucid Group during the fourth quarter worth $31,000. Finally, First National Corp MA ADV acquired a new stake in shares of Lucid Group during the fourth quarter worth $32,000. 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
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