Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price traded down 4.1% during mid-day trading on Friday . The company traded as low as $3.15 and last traded at $3.18. 35,294,593 shares changed hands during trading, a decline of 55% from the average session volume of 79,145,930 shares. The stock had previously closed at $3.31.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. R. F. Lafferty upgraded 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. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Benchmark initiated coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They issued a "buy" rating and a $5.00 price target on the stock. Royal Bank of Canada reduced their price target 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. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of "Hold" and a consensus target price of $3.24.
Get Our Latest Analysis on Lucid Group
Lucid Group Trading Down 7.6 %
The business's fifty day moving average is $2.99 and its 200-day moving average is $2.98. The firm has a market cap of $9.22 billion, a P/E ratio of -2.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in Lucid Group during the 4th quarter worth approximately $28,000. Accredited Investors Inc. bought a new position in Lucid Group during the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group during the 4th quarter worth approximately $31,000. DRW Securities LLC bought a new position in Lucid Group during the 4th quarter worth approximately $31,000. Finally, First National Corp MA ADV bought a new position in Lucid Group during the 4th quarter worth approximately $32,000. Institutional investors own 75.17% of the company's stock.
Lucid Group Company Profile
(
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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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