Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price shot up 3.5% during mid-day trading on Wednesday . The company traded as high as $2.81 and last traded at $2.79. 18,676,258 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 75,550,320 shares. The stock had previously closed at $2.69.
Analyst Ratings Changes
A number of research firms have recently issued reports on LCID. Benchmark began coverage on shares of Lucid Group in a research report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 price target on the stock. 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 on the stock in a research note on Tuesday, November 19th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. R. F. Lafferty raised shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $3.24.
Read Our Latest Stock Report on LCID
Lucid Group Stock Performance
The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of -2.47 and a beta of 0.93. The firm's fifty day moving average is $2.92 and its 200 day moving average is $2.97.
Institutional Trading of Lucid Group
Institutional investors have recently made changes to their positions in the stock. Public Investment Fund raised its position in Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after acquiring an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. increased its position in Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock worth $333,163,000 after acquiring an additional 26,172,852 shares during the period. Two Sigma Investments LP increased its position in Lucid Group by 4,320.7% during the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after acquiring an additional 15,493,320 shares during the period. Renaissance Technologies LLC increased its position in Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after acquiring an additional 12,803,987 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in Lucid Group during the fourth quarter worth $34,123,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.
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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