Lucid Group (NASDAQ:LCID) Shares Up 0.2% – Still a Buy?

Shares of Lucid Group, Inc. (NASDAQ:LCID) rose 0.2% on Monday . The company traded as high as $2.89 and last traded at $2.84. Approximately 17,068,223 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 78,014,516 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LCID. Royal Bank of Canada dropped their target price 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. 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 research note on Monday, November 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. Benchmark began coverage on Lucid Group in a report on Wednesday. They set a “buy” rating and a $5.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lucid Group presently has an average rating of “Hold” and a consensus price target of $3.24.

Lucid Group Stock Up 6.7 %

The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -2.14 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The business has a fifty day moving average of $2.85 and a 200 day moving average of $2.98.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Lucid Group during the second quarter valued at about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group in the 4th quarter valued at approximately $28,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group in the 4th quarter valued at approximately $31,000. First National Corp MA ADV purchased a new stake in Lucid Group in the fourth quarter valued at approximately $32,000. Finally, Yousif Capital Management LLC acquired a new position in Lucid Group during the fourth quarter worth $32,000. Institutional investors and hedge funds 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.