Lucid Group (NASDAQ:LCID) Trading Up 3.4% - Here's Why

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report)'s stock price was up 3.4% during mid-day trading on Thursday . The stock traded as high as $2.62 and last traded at $2.60. Approximately 34,898,850 shares changed hands during trading, a decline of 45% from the average daily volume of 63,476,582 shares. The stock had previously closed at $2.51.Analyst Upgrades and DowngradesTesla Market Sentiment Sours: Here Are the EV WinnersSeveral equities analysts recently weighed in on the stock. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research report on Thursday, April 3rd. Robert W. Baird lifted their price target on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Cowen started coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a "hold" rating for the company. Stifel Nicolaus cut their price objective on Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Redburn Atlantic cut Lucid Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of "Hold" and an average target price of $2.68.View Our Latest Report on Lucid GroupLucid Group Price PerformanceLucid’s Stock Comeback—Is a Long-Term Recovery Ahead?The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -1.89 and a beta of 0.88. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $2.57. Institutional Trading of Lucid GroupA number of hedge funds and other institutional investors have recently modified their holdings of LCID. Public Investment Fund boosted its position in Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after purchasing an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Lucid Group by 31.1% in the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after purchasing an additional 26,172,852 shares during the period. Two Sigma Investments LP increased its stake in Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after purchasing an additional 15,493,320 shares in the last quarter. Renaissance Technologies LLC grew its position in Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock valued at $49,950,000 after purchasing an additional 12,803,987 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Lucid Group in the 4th quarter valued at about $34,123,000. Institutional investors own 75.17% of the company's stock. Lucid Group Company Profile (Get Free Report)4 EV Stocks Facing Uncertainty—Which Ones Will Survive?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.Read MoreFive stocks we like better than Lucid GroupHow to Invest in Biotech StocksMeta Takes A Bow With Q1 Earnings - Watch For Tariff Impact in Q2Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?Amazon Earnings: 2 Reasons to Love It, 1 Reason to Be Cautious3 Stocks to Consider Buying in OctoberPalantir Earnings: 1 Bullish Signal and 1 Area of ConcernThis 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