Lucid Group (NASDAQ:LCID) Sees Large Volume Increase – Time to Buy?

by · The Markets Daily

Lucid Group, Inc. (NASDAQ:LCIDGet Free Report) shares saw an uptick in trading volume on Tuesday . 12,145,750 shares changed hands during trading, an increase of 69% from the previous session’s volume of 7,192,470 shares.The stock last traded at $8.8340 and had previously closed at $9.24.

Lucid Group News Summary

Here are the key news stories impacting Lucid Group this week:

Analyst Ratings Changes

A number of research firms have issued reports on LCID. Zacks Research upgraded shares of Lucid Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Friday, March 27th. Benchmark restated a “buy” rating on shares of Lucid Group in a research report on Thursday, February 19th. Bank of America began coverage on shares of Lucid Group in a research report on Wednesday, March 4th. They set an “underperform” rating and a $10.00 target price on the stock. Finally, Royal Bank Of Canada cut their target price on shares of Lucid Group from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Lucid Group presently has an average rating of “Reduce” and a consensus target price of $12.86.

Read Our Latest Report on LCID

Lucid Group Trading Down 4.7%

The company has a current ratio of 1.25, a quick ratio of 0.83 and a debt-to-equity ratio of 3.00. The company has a market capitalization of $2.89 billion, a P/E ratio of -0.72 and a beta of 1.16. The business has a 50 day moving average price of $9.94 and a 200 day moving average price of $13.15.

Institutional Trading of Lucid Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new stake in shares of Lucid Group in the 3rd quarter valued at about $1,361,978,000. Uber Technologies Inc bought a new stake in shares of Lucid Group in the 3rd quarter valued at about $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Lucid Group by 39.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock valued at $25,973,000 after acquiring an additional 3,465,542 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Lucid Group by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock valued at $127,488,000 after acquiring an additional 701,826 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Lucid Group by 112.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock valued at $13,166,000 after acquiring an additional 2,874,603 shares during the last quarter. 75.17% of the stock is owned by institutional investors.

Lucid Group Company Profile

(Get Free Report)

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.

Further Reading