Lucid Group, Inc. (NASDAQ:LCID) Receives Average Rating of “Hold” from Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received an average recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One equities research 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 price target among analysts that have covered the stock in the last year is $3.16.

A number of equities research analysts have recently commented on the company. Cfra set a $2.00 price objective on Lucid Group in a research report on Thursday, October 17th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Monday, November 11th. Royal Bank of Canada cut their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th.

Insiders Place Their Bets

In other news, Director Public Investment Fund bought 374,717,927 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This trade represents a -102.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

Large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its position in Lucid Group by 14.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 65,191 shares of the company’s stock valued at $226,000 after acquiring an additional 8,074 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Lucid Group during the 3rd quarter valued at $53,000. M&T Bank Corp lifted its stake in shares of Lucid Group by 46.0% in the 3rd quarter. M&T Bank Corp now owns 222,335 shares of the company’s stock valued at $785,000 after purchasing an additional 70,079 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Lucid Group in the third quarter worth $121,000. Finally, Main Management ETF Advisors LLC acquired a new position in Lucid Group during the third quarter worth $863,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Down 3.0 %

NASDAQ LCID opened at $3.20 on Tuesday. The company has a market capitalization of $9.64 billion, a P/E ratio of -2.39 and a beta of 1.08. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. 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 company’s 50 day simple moving average is $2.41 and its 200 day simple moving average is $3.00.

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.