Lucid Group (NASDAQ:LCID) Stock Price Up 2.8% – What’s Next?

Lucid Group, Inc. (NASDAQ:LCID)’s share price was up 2.8% on Monday . The company traded as high as $2.59 and last traded at $2.57. Approximately 29,414,962 shares traded hands during trading, a decline of 51% from the average daily volume of 60,506,380 shares. The stock had previously closed at $2.50.

Wall Street Analyst Weigh In

LCID has been the topic of a number of research analyst reports. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a report on Tuesday, March 18th. Cowen started coverage on Lucid Group in a research note on Thursday, March 6th. They set a “hold” rating on the stock. Stifel Nicolaus dropped their price target on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Finally, TD Cowen began coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.69.

Lucid Group Stock Up 1.6 %

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’s fifty day moving average price is $2.52 and its 200-day moving average price is $2.65. The stock has a market capitalization of $7.70 billion, a PE ratio of -1.90 and a beta of 0.88.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group during the fourth quarter valued at $28,000. Accredited Investors Inc. bought a new stake in Lucid Group during the 4th quarter valued at about $30,000. Proficio Capital Partners LLC purchased a new position in Lucid Group in the fourth quarter worth about $31,000. DRW Securities LLC bought a new position in shares of Lucid Group in the fourth quarter worth approximately $31,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of Lucid Group during the fourth quarter valued at approximately $32,000. 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.