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

Lucid Group, Inc. (NASDAQ:LCID) traded up 3.2% during mid-day trading on Friday . The company traded as high as $3.42 and last traded at $3.37. 32,065,922 shares changed hands during mid-day 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 Analysts Forecast Growth

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

Lucid Group Stock Up 1.5 %

The business has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $2.97. The company has a market cap of $9.97 billion, a price-to-earnings ratio of -2.47 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Institutional Trading of Lucid Group

A number of institutional investors and hedge funds have recently made changes to their positions in LCID. Sanctuary Advisors LLC acquired a new stake in shares of Lucid Group in the second quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group in the fourth quarter worth about $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group in the fourth quarter worth about $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth about $31,000. Finally, DRW Securities LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth about $31,000. Institutional investors and hedge funds 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.