Traders Buy Large Volume of Lucid Group Call Options (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the target of some unusual options trading activity on Thursday. Investors acquired 110,835 call options on the stock. This represents an increase of 43% compared to the average volume of 77,756 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co boosted 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 period. BI Asset Management Fondsmaeglerselskab A S boosted 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 period. Sei Investments Co. boosted 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 period. Voya Investment Management LLC raised its holdings 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 acquiring an additional 4,591 shares in the last quarter. Finally, Greenleaf Trust raised its holdings 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 acquiring an additional 4,604 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

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Lucid Group Stock Performance

Shares of NASDAQ LCID traded up $0.05 during midday trading on Monday, hitting $3.31. 80,207,315 shares of the company's stock were exchanged, compared to its average volume of 70,537,840. 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 12 month low of $1.93 and a 12 month high of $4.43. The company's 50 day moving average price is $2.92 and its 200 day moving average price is $2.97. The firm has a market capitalization of $9.97 billion, a PE ratio of -2.47 and a beta of 0.93.

Wall Street Analyst Weigh In

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

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.