Lucid Group (NASDAQ:LCID) Trading Down 4.1% – What’s Next?

Lucid Group, Inc. (NASDAQ:LCID) traded down 4.1% during trading on Friday . The company traded as low as $3.15 and last traded at $3.18. 35,294,593 shares were traded during mid-day trading, a decline of 55% from the average session volume of 79,145,930 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. R. F. Lafferty upgraded 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, 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 for the company in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a report on Tuesday, January 7th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Finally, Benchmark began coverage on Lucid Group in a research note on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.24.

Lucid Group Stock Performance

The company’s fifty day moving average price is $2.98 and its two-hundred day moving average price is $2.98. 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 firm has a market capitalization of $9.26 billion, a PE ratio of -2.29 and a beta of 0.93.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LCID. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group during the fourth quarter worth about $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC purchased a new position in Lucid Group in the fourth quarter valued at approximately $31,000. DRW Securities LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new position in Lucid Group during the fourth quarter valued at approximately $32,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.