Lucid Group (NASDAQ:LCID) Hits New 1-Year Low at $10.55

Shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) hit a new 52-week low on Monday . The company traded as low as 10.55 and last traded at 10.71, with a volume of 108898 shares. The stock had previously closed at 11.26.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LCID. Needham & Company LLC began coverage on Lucid Group in a research note on Wednesday, September 14th. They set an “underperform” rating on the stock. R. F. Lafferty dropped their price target on Lucid Group from $19.00 to $17.00 in a research note on Thursday, November 10th. Cantor Fitzgerald began coverage on Lucid Group in a research note on Tuesday, September 27th. They set an “overweight” rating and a $23.00 price target on the stock. Citigroup restated a “buy” rating and set a $28.00 price target on shares of Lucid Group in a research note on Thursday, September 15th. Finally, Morgan Stanley dropped their price target on Lucid Group from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of 26.83.

Lucid Group Trading Down 1.7 %

The stock has a 50-day moving average of 13.63 and a 200 day moving average of 16.39. The stock has a market cap of $17.02 billion, a PE ratio of -7.13 and a beta of 0.62. The company has a quick ratio of 4.21, a current ratio of 5.04 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Lucid Group

Large investors have recently bought and sold shares of the company. Continental Investors Services Inc. acquired a new position in Lucid Group in the third quarter valued at approximately $688,000. B. Riley Wealth Advisors Inc. lifted its holdings in Lucid Group by 47.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,890 shares of the company’s stock valued at $405,000 after acquiring an additional 9,315 shares during the period. Industrial Alliance Investment Management Inc. lifted its holdings in Lucid Group by 4.4% in the third quarter. Industrial Alliance Investment Management Inc. now owns 106,446 shares of the company’s stock valued at $1,487,000 after acquiring an additional 4,533 shares during the period. Spotlight Asset Group Inc. acquired a new position in Lucid Group in the third quarter valued at approximately $2,723,000. Finally, Alpha Paradigm Partners LLC lifted its holdings in Lucid Group by 52.1% in the third quarter. Alpha Paradigm Partners LLC now owns 42,139 shares of the company’s stock valued at $589,000 after acquiring an additional 14,442 shares during the period. Hedge funds and other institutional investors own 70.31% of the company’s stock.

About Lucid Group

(Get Rating)

Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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