Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) rose 3.7% on Friday . The company traded as high as $2.11 and last traded at $2.11. Approximately 36,484,746 shares were traded during trading, a decline of 59% from the average daily volume of 89,738,031 shares. The stock had previously closed at $2.03.
Wall Street Analyst Weigh In
LCID has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on Lucid Group in a report on Friday, March 7th. They set a “hold” rating and a $2.30 price objective on the stock. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $3.50 to $1.13 in a report on Monday, February 24th. Finally, Stifel Nicolaus lowered their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average target price of $2.69.
Read Our Latest Report on LCID
Lucid Group Price Performance
Institutional Trading of Lucid Group
Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new position in Lucid Group during the fourth quarter worth about $28,000. Accredited Investors Inc. purchased a new position in Lucid Group during the fourth quarter worth about $30,000. Proficio Capital Partners LLC purchased a new position in Lucid Group during the fourth quarter worth about $31,000. DRW Securities LLC purchased a new position in Lucid Group during the fourth quarter worth about $31,000. Finally, First National Corp MA ADV purchased a new position in Lucid Group during the fourth quarter worth about $32,000. 75.17% of the stock is currently 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.
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