Lucid Group (NASDAQ:LCID) Trading Down 0.5% – Time to Sell?

Shares of Lucid Group, Inc. (NASDAQ:LCID) were down 0.5% on Wednesday . The company traded as low as $2.08 and last traded at $2.11. Approximately 12,760,599 shares were traded during trading, a decline of 66% from the average daily volume of 37,587,324 shares. The stock had previously closed at $2.12.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LCID shares. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Monday, November 11th. Royal Bank of Canada lowered their price objective on 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. Finally, Cfra set a $2.00 target price on Lucid Group in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.16.

Lucid Group Trading Up 6.7 %

The stock has a market cap of $6.72 billion, a PE ratio of -1.67 and a beta of 1.08. The firm has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $3.00. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the transaction, the director now owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently made changes to their positions in LCID. Price T Rowe Associates Inc. MD raised its position in shares of Lucid Group by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after buying an additional 23,752 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Lucid Group by 13.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 55,253 shares of the company’s stock valued at $157,000 after purchasing an additional 6,363 shares in the last quarter. Cetera Advisors LLC raised its position in Lucid Group by 84.5% during the first quarter. Cetera Advisors LLC now owns 19,015 shares of the company’s stock valued at $54,000 after purchasing an additional 8,710 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Lucid Group during the second quarter valued at about $34,000. Finally, Dynamic Advisor Solutions LLC grew its stake 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 valued at $55,000 after buying an additional 10,157 shares during the last quarter. Hedge funds and other 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.