Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) shares dropped 6.3% during mid-day trading on Thursday . The company traded as low as $2.97 and last traded at $2.98. Approximately 78,147,522 shares were traded during trading, a decline of 29% from the average daily volume of 110,004,602 shares. The stock had previously closed at $3.18.
Analyst Ratings Changes
LCID has been the subject of a number of analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Tuesday. Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, Cfra set a $2.00 target price on Lucid Group in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and a consensus target price of $3.04.
View Our Latest Stock Analysis on Lucid Group
Lucid Group Stock Up 1.3 %
Insider Buying and Selling at Lucid Group
In related news, Director Public Investment Fund bought 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 61.26% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new position in shares of Lucid Group during the fourth quarter valued at approximately $151,000. GAMMA Investing LLC lifted its holdings in Lucid Group by 73.7% during the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after acquiring an additional 5,031 shares during the period. Pine Valley Investments Ltd Liability Co lifted its holdings in Lucid Group by 27.8% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after acquiring an additional 3,816 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Lucid Group by 14.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 65,191 shares of the company’s stock worth $226,000 after acquiring an additional 8,074 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in Lucid Group during the third quarter worth $53,000. 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.
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