Lucid Group Sees Unusually Large Options Volume (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of some unusual options trading on Friday. Stock investors purchased 104,238 call options on the stock. This represents an increase of approximately 68% compared to the average daily volume of 62,090 call options.

Analysts Set New Price Targets

Several research firms recently issued reports on LCID. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a report on Tuesday, October 8th. Cfra set a $2.00 target price on Lucid Group in a report on Thursday, October 17th. Royal Bank of Canada lowered their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. Finally, Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.16.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co lifted its stake in Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock valued at $36,000 after purchasing an additional 3,549 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Lucid Group by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock worth $172,000 after acquiring an additional 3,715 shares during the period. Greenleaf Trust increased its holdings in shares of Lucid Group by 22.0% during the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after acquiring an additional 4,604 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Lucid Group by 12.5% during the 2nd quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after acquiring an additional 5,337 shares during the last quarter. Finally, Xponance Inc. raised its stake in Lucid Group by 20.8% in the 2nd quarter. Xponance Inc. now owns 31,938 shares of the company’s stock valued at $83,000 after acquiring an additional 5,493 shares during the period. Institutional investors own 75.17% of the company’s stock.

Lucid Group Price Performance

Lucid Group stock opened at $2.30 on Friday. Lucid Group has a one year low of $1.93 and a one year high of $5.31. 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 firm has a 50-day moving average of $2.54 and a 200-day moving average of $3.00.

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.