Stock Traders Purchase Large Volume of Lucid Group Put Options (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) saw unusually large options trading on Wednesday. Investors acquired 153,156 put options on the stock. This is an increase of approximately 78% compared to the average daily volume of 86,236 put options.

Institutional Trading of Lucid Group

Large investors have recently modified their holdings of the business. Point72 Italy S.r.l. bought a new stake in Lucid Group in the 3rd quarter worth approximately $3,209,000. Main Management ETF Advisors LLC bought a new stake in Lucid Group in the 3rd quarter worth approximately $863,000. Charles Schwab Investment Management Inc. lifted its position in Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after buying an additional 249,500 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Lucid Group in the 4th quarter worth approximately $301,000. Institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

LCID has been the subject of several recent research reports. Benchmark started coverage on Lucid Group in a report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a report on Wednesday. Royal Bank of Canada reduced their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $3.00 to $1.00 in a report on Wednesday. Finally, R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.73.

Lucid Group Stock Performance

Shares of LCID opened at $2.26 on Thursday. The company has a market cap of $6.79 billion, a PE ratio of -1.68 and a beta of 0.93. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $2.98 and a 200-day moving average price of $2.97. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43.

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.