Lucid Group (NASDAQ:LCID) Trading Up 1.8% – Should You Buy?

Lucid Group, Inc. (NASDAQ:LCID)’s stock price traded up 1.8% during trading on Friday . The stock traded as high as $2.36 and last traded at $2.26. 31,386,943 shares changed hands during trading, a decline of 10% from the average session volume of 34,922,746 shares. The stock had previously closed at $2.22.

Analyst Ratings Changes

LCID has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. Robert W. Baird reissued a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday. Finally, Cfra set a $2.00 price objective on shares of Lucid Group in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and an average target price of $3.18.

Lucid Group Stock Down 0.5 %

The company has a market cap of $5.17 billion, a P/E ratio of -1.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The company’s 50-day moving average is $3.16 and its two-hundred day moving average is $3.08.

Insider Transactions at Lucid Group

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the acquisition, the director now owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Public Investment Fund acquired 374,717,927 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the purchase, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 61.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after purchasing an additional 489,187 shares in the last quarter. Bank of New York Mellon Corp increased its position in Lucid Group by 27.7% in the second quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after buying an additional 581,082 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Lucid Group by 42.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock worth $6,951,000 after buying an additional 732,463 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Lucid Group by 6.8% in the second quarter. Rhumbline Advisers now owns 741,822 shares of the company’s stock worth $1,936,000 after buying an additional 46,997 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Lucid Group by 946.6% during the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after buying an additional 474,534 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

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.