Lucid Group (NASDAQ:LCID) Stock Price Down 0.6% - Time to Sell?

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s stock price traded down 0.6% during trading on Monday . The stock traded as low as $2.21 and last traded at $2.31. 19,347,016 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 55,530,742 shares. The stock had previously closed at $2.32.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. TD Cowen began coverage on Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 price objective on the stock. Stifel Nicolaus dropped their target price on Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Benchmark restated a "buy" rating and set a $5.00 price target on shares of Lucid Group in a report on Friday, March 7th. Finally, Bank of America downgraded Lucid Group from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Two research 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 data from MarketBeat.com, Lucid Group currently has an average rating of "Hold" and an average target price of $2.69.

Lucid Group Stock Performance

The stock has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.72. 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 market capitalization of $7.03 billion, a price-to-earnings ratio of -1.73 and a beta of 0.97.

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Institutional Trading of Lucid Group

Several large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new position in Lucid Group during the fourth quarter worth $28,000. Accredited Investors Inc. acquired a new position in shares of Lucid Group during the fourth quarter valued at about $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $31,000. DRW Securities LLC acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $31,000. Finally, First National Corp MA ADV bought a new stake in Lucid Group in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.

About Lucid Group

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.