Lucid Group (NASDAQ:LCID) Upgraded by R. F. Lafferty to “Buy” Rating

R. F. Lafferty upgraded shares of Lucid Group (NASDAQ:LCID) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat reports. R. F. Lafferty currently has $4.00 price target on the stock.

LCID has been the topic of a number of other reports. Cfra set a $2.00 price objective on shares of Lucid Group in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lucid Group currently has an average rating of “Hold” and an average price target of $3.27.

Lucid Group Price Performance

Lucid Group stock opened at $2.30 on Monday. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. Lucid Group has a 52-week low of $2.02 and a 52-week high of $5.31. The firm has a market cap of $5.38 billion, a PE ratio of -1.75 and a beta of 1.11. The company’s 50 day moving average is $3.13 and its two-hundred day moving average is $3.09.

Insiders Place Their Bets

In other 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Public Investment Fund bought 374,717,927 shares of the firm’s 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 acquisition, the director now owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This trade represents a -100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Eric Bach sold 89,959 shares of the firm’s 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 in the company, valued at $6,368,761.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 61.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lucid Group

Large investors have recently made changes to their positions in the business. Frank Rimerman Advisors LLC lifted its holdings in shares of Lucid Group by 925.0% during the 2nd 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 in the last quarter. Meeder Advisory Services Inc. acquired a new position in shares of Lucid Group during the first quarter worth about $29,000. Accredited Investors Inc. purchased a new stake in shares of Lucid Group in the second quarter worth about $27,000. Sanctuary Advisors LLC acquired a new stake in shares of Lucid Group in the second quarter valued at about $26,000. Finally, Crumly & Associates Inc. purchased a new stake in shares of Lucid Group during the 3rd quarter valued at about $38,000. 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.