Traders Purchase Large Volume of Call Options on Lucid Group (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of some unusual options trading activity on Thursday. Traders acquired 110,835 call options on the stock. This represents an increase of approximately 43% compared to the typical daily volume of 77,756 call options.

Lucid Group Price Performance

Shares of NASDAQ:LCID traded up $0.35 during mid-day trading on Thursday, reaching $3.22. The stock had a trading volume of 88,444,311 shares, compared to its average volume of 78,417,977. The company has a market cap of $9.68 billion, a P/E ratio of -2.40 and a beta of 0.93. The business’s 50 day moving average price is $2.86 and its 200 day moving average price is $2.98. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43.

Wall Street Analyst Weigh In

LCID has been the subject of several research reports. 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. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald restated 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 reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lucid Group has an average rating of “Hold” and an average target price of $3.24.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently modified their holdings of LCID. Newbridge Financial Services Group Inc. purchased a new position in shares of Lucid Group in the 4th quarter valued at $28,000. Proficio Capital Partners LLC purchased a new stake in Lucid Group in the fourth quarter valued at about $31,000. First National Corp MA ADV acquired a new stake in Lucid Group during the 4th quarter valued at approximately $32,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Lucid Group in the 4th quarter valued at $32,000. Finally, Yousif Capital Management LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth $32,000. 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.