Lucid Group, Inc. (NASDAQ:LCID) Receives $3.16 Consensus Price Target from Analysts

Lucid Group, Inc. (NASDAQ:LCID) has received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.16.

LCID has been the subject of several analyst reports. Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. Royal Bank of Canada reduced their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Friday, November 8th.

Lucid Group Trading Down 0.5 %

Shares of LCID opened at $2.12 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a 50-day moving average price of $2.65 and a two-hundred day moving average price of $3.02. Lucid Group has a 12 month low of $1.93 and a 12 month high of $5.31.

Insider Buying and Selling

In other news, Director Public Investment Fund acquired 374,717,927 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 61.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pine Valley Investments Ltd Liability Co raised its stake in shares of Lucid Group by 34.9% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after buying an additional 3,549 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Lucid Group by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after acquiring an additional 3,715 shares during the last quarter. Greenleaf Trust lifted its stake in shares of 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 purchasing an additional 4,604 shares during the period. Amalgamated Bank boosted its position in shares of Lucid Group by 12.5% in the 2nd quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after purchasing an additional 5,337 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Lucid Group by 20.8% during the second quarter. Xponance Inc. now owns 31,938 shares of the company’s stock worth $83,000 after purchasing an additional 5,493 shares during the period. Institutional investors own 75.17% of the company’s stock.

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.