Lucid Group Sees Unusually Large Options Volume (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the target of some unusual options trading activity on Thursday. Investors purchased 110,835 call options on the company. This is an increase of 43% compared to the average daily volume of 77,756 call options.

Institutional Trading of Lucid Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pine Valley Investments Ltd Liability Co boosted its position in Lucid Group by 27.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock valued at $62,000 after buying an additional 3,816 shares during the period. Sei Investments Co. grew its holdings in Lucid Group by 14.0% in the fourth quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock worth $109,000 after purchasing an additional 4,431 shares during the last quarter. Greenleaf Trust grew its stake in Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after buying an additional 4,604 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Lucid Group by 1.9% during the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company’s stock valued at $818,000 after acquiring an additional 5,022 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Lucid Group by 73.7% during the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after purchasing an additional 5,031 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Trading Up 13.6 %

Shares of LCID stock opened at $3.26 on Friday. The company has a market cap of $9.82 billion, a PE ratio of -2.43 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 stock’s 50 day simple moving average is $2.89 and its two-hundred day simple moving average is $2.98. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43.

Analysts Set New Price Targets

LCID has been the subject of several research analyst reports. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Benchmark assumed coverage on Lucid Group in a research report on Wednesday. They set a “buy” rating and a $5.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, R. F. Lafferty raised 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.24.

About Lucid Group

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.