Lucid Group, Inc. (NASDAQ:LCID) Given Average Rating of “Hold” by Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.16.

Several analysts have recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, October 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 report on Tuesday, November 19th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Finally, Cfra set a $2.00 price target on Lucid Group in a report on Thursday, October 17th.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.17 on Friday. The stock has a fifty day moving average price of $2.74 and a 200 day moving average price of $3.04. Lucid Group has a 1-year low of $1.93 and a 1-year high of $5.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market cap of $6.54 billion, a PE ratio of -1.62 and a beta of 1.11.

Insider Buying and Selling

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 61.26% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LCID. Price T Rowe Associates Inc. MD increased its stake in shares of Lucid Group by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after purchasing an additional 23,752 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Lucid Group by 946.6% in the first quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock worth $1,493,000 after acquiring an additional 474,534 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Lucid Group by 13.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 55,253 shares of the company’s stock worth $157,000 after acquiring an additional 6,363 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Lucid Group by 12.7% in the first quarter. Tidal Investments LLC now owns 338,712 shares of the company’s stock valued at $965,000 after acquiring an additional 38,072 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Lucid Group during the first quarter valued at $82,000. 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.