Lucid Group (NASDAQ:LCID) Trading Up 0.7% – Here’s What Happened

Lucid Group, Inc. (NASDAQ:LCID) shot up 0.7% on Thursday . The stock traded as high as $3.16 and last traded at $3.06. 25,071,278 shares were traded during mid-day trading, a decline of 71% from the average session volume of 85,664,742 shares. The stock had previously closed at $3.04.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, November 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Tuesday, January 7th. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Lucid Group currently has an average rating of “Hold” and an average target price of $3.04.

Lucid Group Trading Up 3.1 %

The firm has a market cap of $9.44 billion, a P/E ratio of -2.34 and a beta of 0.94. The company’s fifty day moving average price is $2.59 and its two-hundred day moving average price is $3.05. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In other Lucid Group news, Director Public Investment Fund acquired 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, for a total transaction of $970,519,430.93. Following the transaction, the director now owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Lucid Group during the 2nd quarter worth about $26,000. Frank Rimerman Advisors LLC lifted its position in shares of Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after purchasing an additional 9,250 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Lucid Group during the fourth quarter valued at approximately $33,000. GAMMA Investing LLC increased its holdings in shares of Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after purchasing an additional 5,031 shares in the last quarter. Finally, Crumly & Associates Inc. bought a new position in Lucid Group in the 3rd quarter worth approximately $38,000. Institutional investors 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.