Lucid Group (NASDAQ:LCID) Shares Up 1.4% – Time to Buy?

Lucid Group, Inc. (NASDAQ:LCID)’s share price rose 1.4% during mid-day trading on Thursday . The stock traded as high as $2.18 and last traded at $2.13. Approximately 28,280,256 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 37,951,656 shares. The stock had previously closed at $2.10.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, Cfra set a $2.00 target price on shares of Lucid Group in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.16.

Lucid Group Trading Up 10.0 %

The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average price of $2.54 and a 200 day moving average price of $3.00.

Insider Activity at Lucid Group

In related news, Director Public Investment Fund acquired 374,717,927 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost 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 of the company’s stock, 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 the SEC website. 61.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lucid Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Lucid Group by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock valued at $1,242,000 after purchasing an additional 23,752 shares during the period. Cetera Advisors LLC boosted its position in Lucid Group by 84.5% in the 1st quarter. Cetera Advisors LLC now owns 19,015 shares of the company’s stock valued at $54,000 after buying an additional 8,710 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Lucid Group during the second quarter valued at about $34,000. Dynamic Advisor Solutions LLC increased its position in shares of Lucid Group by 92.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 21,137 shares of the company’s stock worth $55,000 after acquiring an additional 10,157 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Lucid Group in the second quarter worth about $83,000. 75.17% of the stock is owned by institutional investors and hedge funds.

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.