Lucid Group, Inc. (NASDAQ:LCID) Given Average Rating of “Hold” by Brokerages

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $3.16.

Several equities analysts recently commented on LCID shares. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Monday, November 11th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Finally, Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th.

Lucid Group Trading Up 1.9 %

Shares of Lucid Group stock opened at $2.17 on Friday. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $5.31. The business’s fifty day moving average is $2.74 and its two-hundred day moving average is $3.04. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The firm has a market cap of $6.54 billion, a PE ratio of -1.62 and a beta of 1.11.

Insider Activity at Lucid Group

In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the transaction, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 61.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in shares of Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after buying an additional 6,771 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after acquiring an additional 23,752 shares during the period. Canada Pension Plan Investment Board grew its position in Lucid Group by 131.3% in the second quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after acquiring an additional 238,628 shares in the last quarter. Signaturefd LLC raised its stake in shares of Lucid Group by 39.8% during the third quarter. Signaturefd LLC now owns 36,493 shares of the company’s stock valued at $129,000 after purchasing an additional 10,383 shares during the period. Finally, ORG Partners LLC acquired a new position in shares of Lucid Group during the second quarter worth $83,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.