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

Lucid Group, Inc. (NASDAQ:LCID) was down 0.5% on Monday . The stock traded as low as $2.14 and last traded at $2.17. Approximately 18,950,653 shares were traded during trading, a decline of 49% from the average daily volume of 37,413,094 shares. The stock had previously closed at $2.18.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LCID shares. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Monday, November 11th. Royal Bank of Canada dropped their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Finally, Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and a consensus target price of $3.16.

Lucid Group Trading Down 4.1 %

The company’s fifty day simple moving average is $2.68 and its two-hundred day simple moving average is $3.02. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of -1.60 and a beta of 1.11.

Insider Buying and Selling

In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 61.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lucid Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after buying an additional 6,771 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock valued at $1,242,000 after buying an additional 23,752 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Lucid Group by 131.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after buying an additional 238,628 shares during the last quarter. Signaturefd LLC increased its stake in Lucid Group by 39.8% in the 3rd quarter. Signaturefd LLC now owns 36,493 shares of the company’s stock valued at $129,000 after buying an additional 10,383 shares during the last quarter. Finally, ORG Partners LLC bought a new position in shares of Lucid Group in the 2nd quarter valued at about $83,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.