Lucid Group (NASDAQ:LCID) Shares Up 1.8% – What’s Next?

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

Wall Street Analyst Weigh In

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

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. The company has a market cap of $5.17 billion, a PE ratio of -1.83 and a beta of 1.11. The company’s 50 day moving average price is $3.16 and its 200-day moving average price is $3.08.

Insider Buying and Selling at Lucid Group

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Lucid Group in the second quarter worth approximately $26,000. Accredited Investors Inc. purchased a new position in Lucid Group in the second quarter worth $27,000. Frank Rimerman Advisors LLC increased its stake in Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after acquiring an additional 9,250 shares during the last quarter. Meeder Advisory Services Inc. purchased a new stake in Lucid Group during the first quarter valued at about $29,000. Finally, Norden Group LLC purchased a new position in shares of Lucid Group in the 1st quarter worth about $32,000. Institutional investors own 75.17% of the company’s stock.

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.