Lucid Group, Inc. (NASDAQ:LCID) Given Consensus Rating of “Hold” by Brokerages

Lucid Group, Inc. (NASDAQ:LCID) has received a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $3.16.

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a report on Tuesday, October 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. Cfra set a $2.00 price target on Lucid Group in a research note on Thursday, October 17th. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th.

Insider Activity

In other 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frank Rimerman Advisors LLC increased 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 worth $27,000 after purchasing an additional 9,250 shares during the period. Sanctuary Advisors LLC bought a new position in Lucid Group in the 2nd quarter valued at $26,000. Crumly & Associates Inc. bought a new stake in Lucid Group during the 3rd quarter worth about $38,000. Latko Wealth Management Ltd. acquired a new position in Lucid Group in the third quarter valued at approximately $39,000. Finally, Clean Yield Group acquired a new position in Lucid Group during the third quarter valued at approximately $43,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of LCID opened at $3.10 on Tuesday. The firm has a fifty day moving average of $2.39 and a 200-day moving average of $2.99. The company has a market cap of $9.34 billion, a price-to-earnings ratio of -2.31 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.49.

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.