Lucid Group (NASDAQ:LCID) Stock Price Up 2.2% - Here's Why

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s share price was up 2.2% during mid-day trading on Wednesday . The stock traded as high as $2.27 and last traded at $2.14. Approximately 56,285,453 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 89,133,313 shares. The stock had previously closed at $2.09.Analyst Ratings Changes4 EV Stocks Facing Uncertainty—Which Ones Will Survive?Several equities research analysts have issued reports on LCID shares. Redburn Atlantic downgraded Lucid Group from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $3.50 to $1.13 in a report on Monday, February 24th. Stifel Nicolaus lowered their price target on Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Benchmark restated a "buy" rating and issued a $5.00 price target on shares of Lucid Group in a report on Friday, March 7th. 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 report on Tuesday, November 19th. Finally, Cowen started coverage on Lucid Group in a report on Thursday, March 6th. They set a "hold" rating for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.69.Get Our Latest Analysis on Lucid GroupLucid Group Stock Up 3.0 %MarketBeat Week in Review – 01/13 - 01/17The firm has a 50-day moving average of $2.77 and a 200 day moving average of $2.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of -1.56 and a beta of 0.97. Institutional Inflows and OutflowsLarge investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group during the fourth quarter valued at approximately $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group in the fourth quarter valued at approximately $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group in the fourth quarter valued at approximately $31,000. DRW Securities LLC acquired a new stake in shares of Lucid Group in the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new stake in shares of Lucid Group in the fourth quarter valued at approximately $32,000. 75.17% of the stock is owned by institutional investors and hedge funds. About Lucid Group (Get Free Report)What Lucid’s Partnership With SoundHound Means for LCID StockLucid 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.Featured ArticlesFive stocks we like better than Lucid GroupWhat is a SEC Filing?Rubrik Stock’s V-Bottom Reversal Signals a Major Rally AheadHow to Invest in Biotech StocksHow Super Micro Computer Stock Is Defying the Market Sell-OffTrading Halts ExplainedAppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?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. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Lucid Group Right Now?Before you consider Lucid Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lucid Group wasn't on the list.While Lucid Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here