<div id="readability-page-1"><p>Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s stock price rose 1.3% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $2.29 and last traded at $2.27. Approximately 11,236,541 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 34,270,387 shares. The stock had previously closed at $2.24.</p><ul><li>A $1.75 Billion Gamble: Can Lucid Ignite Growth?</li></ul><p>Specifically,  Director Public Investment Fund bought 374,717,927 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased 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 owns 8,041,393 shares of the company's stock, valued at $20,827,207.87. This trade represents a -100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. </p><h2>Analyst Ratings Changes</h2><p>A number of research firms recently weighed in on LCID. Cantor Fitzgerald  reaffirmed a &#34;neutral&#34; rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Tuesday, October 8th. Needham &amp; Company LLC  reaffirmed a &#34;hold&#34; rating on shares of Lucid Group in a research note on Wednesday, September 11th. Royal Bank of Canada  reaffirmed a &#34;sector perform&#34; rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Thursday, September 12th. Robert W. Baird  reaffirmed a &#34;neutral&#34; rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Finally, Cfra  set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. One research analyst  has rated the stock with a sell rating and eight have assigned  a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of &#34;Hold&#34; and a consensus price target of $3.54.</p><ul><li>Is Lucid Group Nearing the Bottom? What Investors Should Know</li></ul><p><b>Check Out Our Latest Analysis on Lucid Group</b></p><h2>Lucid Group Price Performance</h2><p>The firm has a market capitalization of $5.28 billion, a P/E ratio of -1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The stock's fifty day simple moving average is $3.30 and its 200 day simple moving average is $3.09. </p><ul><li>An EV OEM Shakeout Is Underway: Who Will Win? </li></ul><p>Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The company had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. During the same quarter last year, the company earned ($0.40) EPS. The business's revenue was up 32.9% compared to the same quarter last year.  On average, equities research analysts predict that  Lucid Group, Inc. will post -1.22 EPS for the current year. </p><h2>Hedge Funds Weigh In On Lucid Group</h2><p>Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of  Lucid Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company's stock valued at $238,659,000 after acquiring an additional 489,187 shares in the last quarter.  Bank of New York Mellon Corp increased its holdings in  Lucid Group by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company's stock worth $7,000,000 after buying an additional 581,082 shares during the period.  Healthcare of Ontario Pension Plan Trust Fund increased its holdings in  Lucid Group by 42.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company's stock worth $6,951,000 after buying an additional 732,463 shares during the period.  Rhumbline Advisers increased its holdings in  Lucid Group by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 741,822 shares of the company's stock worth $1,936,000 after buying an additional 46,997 shares during the period.  Finally, Janus Henderson Group PLC increased its holdings in  Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company's stock worth $1,493,000 after buying an additional 474,534 shares during the period. Institutional investors and hedge funds own  75.17% of the company's stock. </p><h2>Lucid Group Company Profile</h2> (Get Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Lucid Group</li><li>How to Calculate Retirement Income: MarketBeat’s Calculator</li><li>Insider Buying Signals Upside for These 3 Stocks</li><li>How to buy stock: A step-by-step guide for beginners </li><li>These 2 Big Players Are Set to Compete With Elon Musk’s Starlink</li><li>Using the MarketBeat Stock Split Calculator</li><li>NXP Semiconductors Nears Rock Bottom: A Buy Signal Is Expected</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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LCID

<p>Lucid Group's stock (NASDAQ:LCID) rose 1.3% following insider buying, with a director purchasing 374,717,927 shares at $0.59 each. The stock traded at $0.27, down from a previous close of $0.24, with a significant drop in trading volume. Analysts maintain a "hold" rating, with a consensus price target of $0.54. The company reported a negative EPS of $0.29 for the last quarter, missing estimates, but revenue increased by 32.9% year-over-year. Institutional investors hold 75.17% of the stock, reflecting strong interest in the company.</p>

Lucid Group (NASDAQ:LCID) Stock Price Up 1.3% After Insider Buying Activity