Lucid Group (NASDAQ:LCID) Raised to “Buy” at R. F. Lafferty

R. F. Lafferty upgraded shares of Lucid Group (NASDAQ:LCID) from a hold rating to a buy rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $4.00 target price on the stock.

Several other equities analysts have also recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. Cfra set a $2.00 price objective on shares of Lucid Group in a report on Thursday, October 17th. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.27.

Lucid Group Stock Down 1.7 %

Shares of NASDAQ LCID opened at $2.30 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. Lucid Group has a 1 year low of $2.02 and a 1 year high of $5.31. The stock’s 50-day simple moving average is $3.13 and its 200-day simple moving average is $3.09. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of -1.75 and a beta of 1.11.

Insider Buying and Selling at Lucid Group

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

Hedge Funds Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LCID. Frank Rimerman Advisors LLC boosted its position in Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after acquiring an additional 9,250 shares during the period. Meeder Advisory Services Inc. bought a new stake in shares of Lucid Group during the first quarter valued at about $29,000. Accredited Investors Inc. acquired a new stake in Lucid Group in the second quarter worth about $27,000. Sanctuary Advisors LLC bought a new position in Lucid Group in the 2nd quarter valued at about $26,000. Finally, Crumly & Associates Inc. acquired a new position in Lucid Group during the 3rd quarter valued at about $38,000. 75.17% of the stock is owned by institutional investors.

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.