Lucid Group (NASDAQ:LCID) Stock Price Up 1.6% – Should You Buy?

Lucid Group, Inc. (NASDAQ:LCID) was up 1.6% during trading on Thursday . The company traded as high as $2.65 and last traded at $2.57. Approximately 23,054,287 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 40,860,926 shares. The stock had previously closed at $2.53.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LCID shares. Cfra set a $2.00 price target on shares of Lucid Group in a report on Thursday, October 17th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. 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 report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.16.

Lucid Group Stock Up 14.8 %

The firm has a 50 day moving average price of $2.39 and a 200-day moving average price of $2.98. 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 firm has a market cap of $9.10 billion, a price-to-earnings ratio of -2.25 and a beta of 1.08.

Insider Buying and Selling at Lucid Group

In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

A number of large investors have recently bought and sold shares of LCID. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Lucid Group by 34.9% during the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after acquiring an additional 3,549 shares during the period. Principal Financial Group Inc. grew its stake in Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after buying an additional 3,715 shares during the last quarter. Greenleaf Trust raised its holdings in Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after acquiring an additional 4,604 shares during the period. Amalgamated Bank lifted its position in Lucid Group by 12.5% during the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after acquiring an additional 5,337 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Lucid Group by 20.8% during the second quarter. Xponance Inc. now owns 31,938 shares of the company’s stock worth $83,000 after acquiring an additional 5,493 shares during the period. 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.