Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) shot up 8.3% during trading on Tuesday . The company traded as high as $2.63 and last traded at $2.62. 42,635,550 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 55,756,608 shares. The stock had previously closed at $2.42.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on LCID. Benchmark reaffirmed a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. TD Cowen initiated coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Finally, Bank of America lowered Lucid Group from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $2.69.
Check Out Our Latest Analysis on LCID
Lucid Group Stock Performance
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 stock has a market capitalization of $7.03 billion, a PE ratio of -1.73 and a beta of 0.97. The business's 50 day moving average is $2.57 and its 200 day moving average is $2.72.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors and hedge funds have recently modified their holdings of LCID. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group during the fourth quarter worth $28,000. Accredited Investors Inc. purchased a new position in Lucid Group in the 4th quarter worth about $30,000. Proficio Capital Partners LLC bought a new stake in Lucid Group during the 4th quarter valued at about $31,000. DRW Securities LLC bought a new position in Lucid Group in the 4th quarter worth about $31,000. Finally, First National Corp MA ADV purchased a new position in shares of Lucid Group during the fourth quarter worth approximately $32,000. 75.17% of the stock is owned by institutional investors.
About Lucid Group
(
Get Free Report)
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.
Featured Stories
Before you consider Lucid Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lucid Group wasn't on the list.
While Lucid Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
