Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 61,189,856 shares changed hands during trading, an increase of 16% from the previous session’s volume of 52,894,059 shares.The stock last traded at $2.45 and had previously closed at $2.16.
Analyst Ratings Changes
Several brokerages have issued reports on LCID. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Cowen started coverage on shares of Lucid Group in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Stifel Nicolaus lowered their price objective on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Two 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’s stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average target price of $2.69.
Check Out Our Latest Stock Analysis on Lucid Group
Lucid Group Stock Up 11.8 %
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Caprock Group LLC boosted its position in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Lucid Group by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock worth $930,000 after acquiring an additional 6,374 shares in the last quarter. FMR LLC grew its stake in Lucid Group by 47.5% in the third quarter. FMR LLC now owns 149,987 shares of the company’s stock valued at $529,000 after acquiring an additional 48,304 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of Lucid Group in the third quarter worth about $75,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
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.
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