Lucid Group (NASDAQ:LCID) Upgraded at R. F. Lafferty

R. F. Lafferty upgraded shares of Lucid Group (NASDAQ:LCID) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has $4.00 target price on the stock.

A number of other brokerages have also issued reports on LCID. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, Cfra set a $2.00 price target on Lucid Group in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.27.

Lucid Group Stock Performance

Shares of LCID opened at $2.18 on Monday. The firm has a market cap of $5.10 billion, a PE ratio of -1.63 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $3.06 and a 200-day moving average price of $3.08. Lucid Group has a 12 month low of $2.02 and a 12 month high of $5.31.

Insider Activity

In other Lucid Group news, Director Public Investment Fund bought 374,717,927 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, 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 -100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This represents a -100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 61.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after purchasing an additional 6,771 shares in the last quarter. Vanguard Group Inc. lifted its stake in Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after purchasing an additional 489,187 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock worth $1,242,000 after purchasing an additional 23,752 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Lucid Group by 131.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock worth $1,097,000 after purchasing an additional 238,628 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Lucid Group by 42.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock worth $6,951,000 after purchasing an additional 732,463 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.