Lucid Group (NASDAQ:LCID) Trading Down 2.4% – Should You Sell?

Lucid Group, Inc. (NASDAQ:LCID) shares traded down 2.4% on Friday . The company traded as low as $2.01 and last traded at $2.03. 19,196,596 shares were traded during trading, a decline of 47% from the average session volume of 36,097,324 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, November 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Cfra set a $2.00 price objective 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 target price on shares of Lucid Group in a research report on Monday, October 7th. 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 company’s stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and a consensus target price of $3.27.

Lucid Group Trading Down 3.4 %

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 50-day moving average price of $3.00 and a 200-day moving average price of $3.07. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -1.50 and a beta of 1.11.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 61.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LCID. Sanctuary Advisors LLC acquired a new position in Lucid Group in the 2nd quarter valued at approximately $26,000. Accredited Investors Inc. bought a new position in Lucid Group in the second quarter worth $27,000. Frank Rimerman Advisors LLC boosted its stake in Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after buying an additional 9,250 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Lucid Group in the 2nd quarter valued at $34,000. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock valued at $36,000 after buying an additional 3,549 shares in the last quarter. 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.