Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) traded up 7.1% on Tuesday . The stock traded as high as $3.55 and last traded at $3.55. 39,941,069 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 79,108,445 shares. The stock had previously closed at $3.31.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Benchmark assumed coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a "buy" rating and a $5.00 target price on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. Royal Bank of Canada lowered their price objective on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research note on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $3.24.
Check Out Our Latest Analysis on LCID
Lucid Group Trading Down 7.6 %
The company has a 50 day moving average price of $2.98 and a 200 day moving average price of $2.98. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of -2.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.
Hedge Funds Weigh In On Lucid Group
Several large investors have recently modified their holdings of LCID. Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group in the 4th quarter valued at $28,000. Accredited Investors Inc. acquired a new position in Lucid Group during the 4th quarter worth about $30,000. Proficio Capital Partners LLC acquired a new position in Lucid Group during the 4th quarter worth about $31,000. DRW Securities LLC acquired a new position in Lucid Group during the 4th quarter worth about $31,000. Finally, First National Corp MA ADV acquired a new position in Lucid Group during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.
About Lucid Group
(
Get Free Report)
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.
See Also
Before you consider Lucid Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lucid Group wasn't on the list.
While Lucid Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
