Lucid Group (NASDAQ:LCID) Upgraded at R. F. Lafferty

Lucid Group (NASDAQ:LCID) was upgraded by investment analysts at R. F. Lafferty from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $4.00 target price on the stock. R. F. Lafferty’s price target points to a potential upside of 86.92% from the company’s previous close.

A number of other analysts also recently commented on LCID. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Finally, Cfra set a $2.00 price objective on shares of Lucid Group in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.27.

Lucid Group Stock Performance

LCID opened at $2.14 on Monday. Lucid Group has a 1-year low of $2.02 and a 1-year high of $5.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The business has a 50 day moving average price of $3.09 and a two-hundred day moving average price of $3.08. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -1.60 and a beta of 1.11.

Insider Activity

In related news, Director Public Investment Fund purchased 374,717,927 shares of Lucid Group stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the transaction, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. The trade was a -100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 61.26% of the stock is owned by insiders.

Institutional Trading of Lucid Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pine Valley Investments Ltd Liability Co raised its holdings in Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock valued at $36,000 after acquiring an additional 3,549 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after buying an additional 3,715 shares during the period. Heritage Wealth Advisors raised its stake in shares of Lucid Group by 53.3% in the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after buying an additional 4,000 shares in the last quarter. Greenleaf Trust increased its stake in Lucid Group by 22.0% in the third quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after acquiring an additional 4,604 shares during the period. Finally, Amalgamated Bank raised its position in Lucid Group by 12.5% in the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after purchasing an additional 5,337 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.