Lucid Group (NASDAQ:LCID) Trading 1.5% Higher - Time to Buy?

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) were up 1.5% on Monday . The company traded as high as $3.42 and last traded at $3.31. Approximately 80,207,315 shares were traded during trading, an increase of 14% from the average daily volume of 70,537,840 shares. The stock had previously closed at $3.26.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LCID shares. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada dropped their target price on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Finally, Benchmark initiated coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Lucid Group has an average rating of "Hold" and a consensus price target of $3.24.

Lucid Group Price Performance

The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of -2.47 and a beta of 0.93. The stock has a fifty day simple moving average of $2.98 and a 200-day simple moving average of $2.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pine Valley Investments Ltd Liability Co raised its stake in Lucid Group by 27.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company's stock valued at $62,000 after purchasing an additional 3,816 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Lucid Group by 43.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company's stock valued at $43,000 after purchasing an additional 4,296 shares during the last quarter. Sei Investments Co. raised its stake in Lucid Group by 14.0% in the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock valued at $109,000 after purchasing an additional 4,431 shares during the last quarter. Voya Investment Management LLC raised its stake in Lucid Group by 4.0% in the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock valued at $363,000 after purchasing an additional 4,591 shares during the last quarter. Finally, Greenleaf Trust raised its stake in Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company's stock valued at $90,000 after purchasing an additional 4,604 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

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.