Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) traded up 3% during trading on Friday . The stock traded as high as $2.40 and last traded at $2.38. 68,255,068 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 61,403,298 shares. The stock had previously closed at $2.31.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on LCID shares. Redburn Atlantic cut Lucid Group from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Robert W. Baird boosted their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a report on Monday. Morgan Stanley upgraded shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reiterated a "hold" rating 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 given a hold rating and two have given a buy rating to the company. According to MarketBeat, Lucid Group has an average rating of "Hold" and an average price target of $2.69.
Check Out Our Latest Report on Lucid Group
Lucid Group Stock Performance
The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of -1.74 and a beta of 0.88. The stock's 50-day simple moving average is $2.47 and its 200 day simple moving average is $2.61.
Institutional Investors Weigh In On Lucid Group
A number of large investors have recently bought and sold shares of LCID. Sterling Investment Counsel LLC acquired a new position in Lucid Group in the first quarter worth $25,000. Grimes & Company Inc. acquired a new position in Lucid Group during the 1st quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group during the 4th quarter worth about $28,000. Accredited Investors Inc. bought a new stake in Lucid Group during the 4th quarter worth about $30,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Lucid Group in the fourth quarter worth about $31,000. 75.17% of the stock is currently owned by institutional investors.
About Lucid Group
(
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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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