Lucid Group (NASDAQ:LCID) Stock Price Up 3.2% – What’s Next?

Lucid Group, Inc. (NASDAQ:LCID)’s share price shot up 3.2% on Friday . The company traded as high as $3.42 and last traded at $3.37. 32,065,922 shares changed hands during trading, a decline of 59% from the average session volume of 78,773,313 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LCID. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada dropped their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Benchmark began coverage on Lucid Group in a research report on Wednesday. They set a “buy” rating and a $5.00 price target on the stock. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.24.

Lucid Group Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock has a 50 day moving average price of $2.91 and a 200 day moving average price of $2.97. The company has a market cap of $9.97 billion, a P/E ratio of -2.47 and a beta of 0.93.

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Lucid Group in the 2nd quarter worth $26,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth $28,000. Accredited Investors Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth $30,000. Proficio Capital Partners LLC bought a new stake in shares of Lucid Group in the 4th quarter worth $31,000. Finally, DRW Securities LLC bought a new stake in shares of Lucid Group in the 4th quarter worth $31,000. Institutional investors own 75.17% of the company’s stock.

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.