Lucid Group Target of Unusually Large Options Trading (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of some unusual options trading activity on Thursday. Investors acquired 151,691 put options on the company. This is an increase of 68% compared to the typical daily volume of 90,399 put options.

Lucid Group Stock Performance

Shares of NASDAQ:LCID traded down $0.06 during trading on Thursday, reaching $2.35. 92,380,004 shares of the company’s stock traded hands, compared to its average volume of 91,425,492. The stock has a market capitalization of $7.11 billion, a P/E ratio of -1.75 and a beta of 0.97. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The company has a 50 day moving average of $2.58 and a 200-day moving average of $2.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Hedge Funds Weigh In On Lucid Group

Several institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group during the 4th quarter valued at approximately $28,000. Accredited Investors Inc. acquired a new position in shares of Lucid Group during the fourth quarter valued at $30,000. Proficio Capital Partners LLC acquired a new position in shares of Lucid Group during the fourth quarter valued at $31,000. DRW Securities LLC bought a new position in shares of Lucid Group during the fourth quarter worth about $31,000. Finally, First National Corp MA ADV bought a new stake in Lucid Group in the 4th quarter valued at about $32,000. 75.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LCID shares. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Thursday. Stifel Nicolaus decreased their target price on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price for the company in a research note on Tuesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Cowen initiated coverage on Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.69.

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.