Lucid Group (NASDAQ:LCID) Shares Down 0.2% – Should You Sell?

Shares of Lucid Group, Inc. (NASDAQ:LCID) were down 0.2% during mid-day trading on Friday . The company traded as low as $2.06 and last traded at $2.09. Approximately 24,384,522 shares traded hands during trading, a decline of 72% from the average daily volume of 87,002,750 shares. The stock had previously closed at $2.09.

Analyst Ratings Changes

LCID has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Wednesday, February 26th. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research note on Friday. Stifel Nicolaus reduced 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. Finally, TD Cowen started coverage on shares of Lucid Group in a research report on Friday. They set a “hold” rating and a $2.30 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Lucid Group has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market cap of $6.43 billion, a PE ratio of -1.59 and a beta of 0.97. The company’s 50 day moving average price is $2.87 and its 200-day moving average price is $2.93.

Institutional Trading of Lucid Group

A number of large investors have recently bought and sold shares of LCID. Crumly & Associates Inc. bought a new position in shares of Lucid Group during the 3rd quarter worth $38,000. Axim Planning & Wealth bought a new position in Lucid Group during the third quarter worth about $48,000. Caprock Group LLC boosted its position in Lucid Group by 7.4% during the third quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock worth $671,000 after purchasing an additional 13,159 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after purchasing an additional 2,335,452 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lucid Group by 2.5% in the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after purchasing an additional 6,374 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.