Lucid Group Sees Unusually Large Options Volume (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) saw unusually large options trading activity on Thursday. Investors acquired 151,691 put options on the stock. This is an increase of approximately 68% compared to the average daily volume of 90,399 put options.

Lucid Group Stock Down 8.0 %

Lucid Group stock traded down $0.19 during trading on Friday, reaching $2.14. The stock had a trading volume of 23,311,491 shares, compared to its average volume of 92,286,445. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The stock has a market cap of $6.47 billion, a PE ratio of -1.59 and a beta of 0.97. The business has a 50 day moving average price of $2.57 and a 200 day moving average price of $2.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LCID. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price on the stock in a research report on Tuesday, March 18th. Redburn Atlantic downgraded 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 report on Monday, February 24th. Cowen initiated coverage on Lucid Group in a research report on Thursday, March 6th. They issued a "hold" rating for the company. Finally, Bank of America cut shares of Lucid Group from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.69.

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Institutional Investors Weigh In On Lucid Group

Several institutional investors have recently modified their holdings of LCID. Newbridge Financial Services Group Inc. purchased a new stake in Lucid Group during the 4th quarter worth about $28,000. Accredited Investors Inc. purchased a new stake in shares of Lucid Group during the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC acquired a new position in shares of Lucid Group in the 4th quarter valued at $31,000. DRW Securities LLC purchased a new position in shares of Lucid Group in the 4th quarter valued at $31,000. Finally, First National Corp MA ADV purchased a new stake in Lucid Group in the fourth quarter valued at $32,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.