Lucid Group (NASDAQ:LCID) Shares Up 5% – Should You Buy?

Lucid Group, Inc. (NASDAQ:LCID)’s stock price traded up 5% during mid-day trading on Monday . The company traded as high as $2.37 and last traded at $2.32. 33,561,637 shares changed hands during trading, a decline of 5% from the average session volume of 35,245,676 shares. The stock had previously closed at $2.21.

Analysts Set New Price Targets

LCID has been the topic of several research reports. Needham & Company LLC restated 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 target price for the company in a research report on Monday. Cfra set a $2.00 price target on shares of Lucid Group in a research report on Thursday, October 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a report on Tuesday, October 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. 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 company’s stock. Based on data from MarketBeat, Lucid Group presently has an average rating of “Hold” and an average price target of $3.27.

Lucid Group Trading Up 1.9 %

The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $3.08.

Insider Buying and Selling at Lucid Group

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

Hedge Funds Weigh In On Lucid Group

A number of institutional investors have recently modified their holdings of LCID. SG Americas Securities LLC lifted its holdings in shares of Lucid Group by 226.4% in the first quarter. SG Americas Securities LLC now owns 434,444 shares of the company’s stock worth $1,238,000 after acquiring an additional 301,349 shares during the last quarter. Meeder Advisory Services Inc. acquired a new stake in Lucid Group in the first quarter valued at approximately $29,000. US Bancorp DE boosted its position in Lucid Group by 7.6% in the first quarter. US Bancorp DE now owns 138,388 shares of the company’s stock valued at $394,000 after buying an additional 9,739 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Lucid Group during the first quarter worth $42,000. Finally, Vanguard Group Inc. lifted its stake in shares of Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after acquiring an additional 489,187 shares during the last quarter. Institutional investors and hedge funds 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.