Lucid Group, Inc. (NASDAQ:LCID – Get Free Report)’s stock price traded up 1.5% during trading on Thursday . The company traded as high as $2.13 and last traded at $2.06. 19,371,178 shares were traded during trading, a decline of 48% from the average session volume of 37,004,691 shares. The stock had previously closed at $2.03.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on LCID shares. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Cfra set a $2.00 price objective on shares of Lucid Group in a report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.16.
View Our Latest Analysis on LCID
Lucid Group Trading Up 1.9 %
Insider Activity at Lucid Group
In related news, Director Public Investment Fund acquired 374,717,927 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the acquisition, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 61.26% of the stock is owned by insiders.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors have recently added to or reduced their stakes in LCID. Pine Valley Investments Ltd Liability Co boosted its stake in Lucid Group by 34.9% during the second 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. Principal Financial Group Inc. grew its stake in shares of Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock worth $172,000 after purchasing an additional 3,715 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after purchasing an additional 4,604 shares in the last quarter. Amalgamated Bank lifted its stake in Lucid Group by 12.5% during the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock valued at $125,000 after purchasing an additional 5,337 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Lucid Group by 20.8% during the second quarter. Xponance Inc. now owns 31,938 shares of the company’s stock worth $83,000 after buying an additional 5,493 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.
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.
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