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

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 121,211 call options on the stock. This is an increase of 33% compared to the typical daily volume of 91,434 call options.Institutional Investors Weigh In On Lucid Group4 EV Stocks Facing Uncertainty—Which Ones Will Survive?A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Italy S.r.l. bought a new position in shares of Lucid Group during the 3rd quarter valued at approximately $3,209,000. Main Management ETF Advisors LLC purchased a new stake in shares of Lucid Group in the third quarter valued at $863,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after acquiring an additional 2,335,452 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Lucid Group by 4,301.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after purchasing an additional 249,500 shares during the period. Finally, Empowered Funds LLC bought a new position in Lucid Group during the 4th quarter valued at about $301,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors. Analyst Ratings ChangesLCID has been the subject of a number of research reports. Cowen assumed coverage on shares of Lucid Group in a research note on Thursday, March 6th. They set a "hold" rating for the company. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. Royal Bank of Canada cut 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. Stifel Nicolaus lowered their price objective on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Benchmark restated a "buy" rating and issued a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $2.69.MarketBeat Week in Review – 01/13 - 01/17Read Our Latest Stock Analysis on LCIDLucid Group Price PerformanceShares of NASDAQ LCID traded up $0.21 during mid-day trading on Tuesday, hitting $2.37. 147,790,264 shares of the company's stock traded hands, compared to its average volume of 53,232,344. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The company's 50-day moving average is $2.72 and its two-hundred day moving average is $2.83. The company has a market capitalization of $7.17 billion, a P/E ratio of -1.76 and a beta of 0.97. 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.Read MoreFive stocks we like better than Lucid Group3 Home Improvement Stocks that Can Upgrade Your PortfolioArqit Stock Soars as NVIDIA’s GTC Fuels Quantum Excitement3 Stocks to Protect Your Portfolio from the Coronavirus Contagion 3 Must-Own Stocks to Build Wealth This DecadeEnergy and Oil Stocks ExplainedAdvanced Micro Devices Eyes AI Market Growth—Is AMD a Buy?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 Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here