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

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 110,835 call options on the company. This is an increase of 43% compared to the average daily volume of 77,756 call options.

Lucid Group Price Performance

LCID traded up $0.05 on Friday, hitting $3.31. 80,207,315 shares of the company were exchanged, compared to its average volume of 70,537,840. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The firm has a fifty day simple moving average of $2.91 and a two-hundred day simple moving average of $2.97. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Point72 Italy S.r.l. bought a new stake in Lucid Group in the 3rd quarter worth $3,209,000. Main Management ETF Advisors LLC bought a new position in Lucid Group during the 3rd quarter valued at approximately $863,000. Charles Schwab Investment Management Inc. grew its position in shares of Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after buying an additional 2,335,452 shares during the last quarter. CWM LLC increased its position in Lucid Group by 24.6% during the 3rd quarter. CWM LLC now owns 34,350 shares of the company's stock valued at $121,000 after purchasing an additional 6,771 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock valued at $771,000 after purchasing an additional 249,500 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

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

Lucid Group Company Profile

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.