Lucid Group, Inc. (NASDAQ:LCID) Receives $3.16 Consensus PT from Analysts

Shares of Lucid Group, Inc. (NASDAQ:LCID) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.16.

A number of brokerages have recently weighed in on LCID. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. Royal Bank of Canada cut their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Finally, Cfra set a $2.00 target price on Lucid Group in a research note on Thursday, October 17th.

Lucid Group Stock Down 3.0 %

NASDAQ:LCID opened at $3.20 on Tuesday. The stock has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $3.00. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of -2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Insider Transactions at Lucid Group

In other Lucid Group news, Director Public Investment Fund purchased 374,717,927 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the acquisition, the director now owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 61.26% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. lifted its stake in shares of Lucid Group by 14.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 65,191 shares of the company’s stock worth $226,000 after acquiring an additional 8,074 shares during the period. Coldstream Capital Management Inc. acquired a new stake in Lucid Group in the third quarter worth approximately $53,000. M&T Bank Corp boosted its stake in Lucid Group by 46.0% during the 3rd quarter. M&T Bank Corp now owns 222,335 shares of the company’s stock valued at $785,000 after purchasing an additional 70,079 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Lucid Group during the 3rd quarter valued at $121,000. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Lucid Group in the 3rd quarter worth $863,000. Institutional investors 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.