Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price shot up 2.9% during trading on Thursday . The company traded as high as $2.42 and last traded at $2.33. 53,854,987 shares traded hands during trading, a decline of 36% from the average session volume of 83,877,336 shares. The stock had previously closed at $2.26.
Analysts Set New Price Targets
A number of research firms recently commented on LCID. Stifel Nicolaus reduced their price objective on Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research report on Thursday. Cantor Fitzgerald reiterated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Wednesday. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Benchmark started coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 price target for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Wednesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.73.
Check Out Our Latest Research Report on Lucid Group
Lucid Group Stock Performance
The business has a 50 day moving average of $2.96 and a 200 day moving average of $2.95. The company has a market capitalization of $6.69 billion, a P/E ratio of -1.66 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.
Hedge Funds Weigh In On Lucid Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LCID. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter valued at approximately $28,000. Accredited Investors Inc. bought a new stake in shares of Lucid Group in the 4th quarter valued at approximately $30,000. Proficio Capital Partners LLC bought a new stake in shares of Lucid Group in the 4th quarter valued at approximately $31,000. DRW Securities LLC bought a new stake in shares of Lucid Group in the 4th quarter valued at approximately $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group during the 4th quarter worth approximately $32,000. 75.17% of the stock is owned by institutional investors.
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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