Needham & Company LLC Reiterates Hold Rating for Lucid Group (NASDAQ:LCID)

Needham & Company LLC reaffirmed their hold rating on shares of Lucid Group (NASDAQ:LCID) in a report published on Friday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Thursday, September 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 price objective 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 research report on Thursday, October 17th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.27.

Lucid Group Trading Up 5.9 %

NASDAQ LCID opened at $2.34 on Friday. 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 stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of -1.75 and a beta of 1.11. The business’s fifty day moving average is $3.13 and its 200-day moving average is $3.09. Lucid Group has a one year low of $2.02 and a one year high of $5.31.

Insider Activity at Lucid Group

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LCID. Caprock Group LLC grew its holdings in shares of Lucid Group by 7.4% during the third quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock worth $671,000 after buying an additional 13,159 shares during the last quarter. Axim Planning & Wealth acquired a new position in Lucid Group during the third quarter worth $48,000. Crumly & Associates Inc. purchased a new stake in shares of Lucid Group in the 3rd quarter worth about $38,000. Latko Wealth Management Ltd. acquired a new position in shares of Lucid Group during the 3rd quarter worth approximately $39,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Lucid Group in the third quarter valued at $192,000. Hedge funds and other institutional investors 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.