Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) fell 1.9% during mid-day trading on Wednesday . The stock traded as low as $3.39 and last traded at $3.42. 26,450,552 shares traded hands during trading, a decline of 67% from the average session volume of 79,239,094 shares. The stock had previously closed at $3.48.
Wall Street Analyst Weigh In
LCID has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada decreased their target price on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 19th. Benchmark initiated coverage on Lucid Group in a research report on Wednesday, February 12th. They set a "buy" rating and a $5.00 price target on the stock. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target for the company in a research note on Monday, November 11th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lucid Group currently has an average rating of "Hold" and an average price target of $3.24.
Read Our Latest Analysis on LCID
Lucid Group Price Performance
The firm has a market cap of $9.22 billion, a price-to-earnings ratio of -2.28 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. The company's 50-day moving average is $2.99 and its 200-day moving average is $2.98.
Institutional Investors Weigh In On Lucid Group
Several hedge funds and other institutional investors have recently bought and sold shares of LCID. Newbridge Financial Services Group Inc. purchased a new stake in shares of Lucid Group in the fourth quarter worth approximately $28,000. Accredited Investors Inc. purchased a new stake in shares of Lucid Group in the 4th quarter valued at about $30,000. Proficio Capital Partners LLC bought a new stake in shares of Lucid Group during the 4th quarter worth $31,000. DRW Securities LLC bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $31,000. Finally, First National Corp MA ADV bought a new position in shares of Lucid Group during the fourth quarter valued at about $32,000. 75.17% of the stock is 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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