Lucid Group (NASDAQ:LCID) Trading Slightly Higher - Is It Time to Invest?

Lucid Group, Inc. (NASDAQ:LCID) experienced a rise of 1.6% in its share price during trading on Thursday, reaching a peak of $2.65 before closing slightly lower at $2.57. The trading volume for the day was 23,054,287 shares, marking a significant decline of 44% from the average daily volume of 40,860,926 shares. The previous closing price was noted at $2.53.

Stock Ratings and Analyst Opinions

• Is Investing in Lucid Group a Smart Move or a Risky Decision?

Several brokerage firms have recently assessed LCID stock. Needham & Company LLC maintained a "hold" recommendation in a report dated November 8th. Cantor Fitzgerald also kept a "neutral" rating with a target price of $4.00, as noted in their report on October 8th. Meanwhile, Robert W. Baird reaffirmed a "neutral" rating with a $3.00 target price in a statement released on October 7th. Royal Bank of Canada lowered their price target on Lucid Group from $3.00 to $2.00 and assigned a "sector perform" rating, as mentioned in their report dated November 19th. Additionally, Cfra pegged a $2.00 target price on the stock in a research note on October 17th. Current data indicates that one analyst rates the stock as a "sell," while seven have given it a "hold" rating, and one analyst rates it as a "buy.” The consensus rating stands at "Hold" with an average target price of $3.16, according to MarketBeat.

Latest Insights on Lucid Group

Lucid Group Performance Metrics

• Is This the Best Time to Invest in Lucid Group?

The company's financial metrics include a current ratio of 3.71, a quick ratio of 3.26, and a debt-to-equity ratio of 0.77. Lucid Group boasts a market capitalization of $7.98 billion, alongside a P/E ratio of -1.98 and a beta of 1.08. The fifty-day moving average stands at $2.41, while the 200-day moving average is $2.99.

Insider Transactions

In a notable transaction, the Director of Public Investment Fund acquired 374,717,927 shares of Lucid Group stock on October 30th for an average price of $2.59 per share. This acquisition totaled approximately $970.5 million. Post-transaction, this director holds 8,041,393 shares of the company, which are currently valued at about $20.83 million, reflecting an increase of -102.19% in their holdings. This information has been officially documented and is accessible through the SEC filing. It’s also worth noting that 61.26% of the stock is owned by corporate insiders.

Institutional Investment Trends

• Hedge Funds Show Interest in Lucid Group

Institutional investors have adjusted their stakes in Lucid Group in recent months. Point72 Italy S.r.l. purchased new shares worth approximately $3.21 million during the third quarter. Similarly, Main Management ETF Advisors LLC invested about $863,000 in new shares during the same period. Charles Schwab Investment Management Inc. significantly increased their holdings in Lucid Group by 84.6%, now owning 5,096,667 shares valued at $17.99 million. CWM LLC also raised their stake by 24.6%, acquiring an additional 6,771 shares, bringing their total to 34,350 shares valued at $121,000. Moreover, The Manufacturers Life Insurance Company boosted its holdings by 2.5% during the third quarter, owning 263,401 shares worth $930,000 after a recent purchase. Institutional investors currently hold 75.17% of the stock.

Company Overview

Lucid Group, Inc. is a technology company that specializes in designing, engineering, manufacturing, and selling electric vehicles (EVs), EV powertrains, and battery systems. In addition, the company develops proprietary software in-house for their electric vehicles. Sales are made directly to consumers via a retail network and online sales through Lucid Financial Services.

Investment Considerations

If you are thinking about whether to invest $1,000 in Lucid Group, it may be beneficial to gather more information. Market analysts are continuously tracking top-rated stocks and may suggest other opportunities that could yield better returns. Presently, Lucid Group holds a "Hold" rating among analysts, but there could be stocks that analysts recommend more strongly.

To explore these stocks further, it may be useful to look into what top analysts are whispering to clients about potential buys before the market catches on.

Lucid, Stocks, Investing