Mon Dec 09 14:50:00 UTC 2024: ## Lucid Group (LCID) Stock Dips Amid Mixed Analyst Ratings and Institutional Investment

**Sioux Falls, SD** – Lucid Group, Inc. (NASDAQ: LCID) saw its share price decline by 1.4% on Tuesday, closing at $2.10 after trading as low as $2.06. Trading volume was significantly lower than average, at 16,363,986 shares, a 56% decrease.

The decline comes amidst a mixed bag of analyst ratings. While Cantor Fitzgerald reiterated a neutral rating with a $4.00 price target, and Robert W. Baird maintained a neutral rating and $3.00 price objective, Royal Bank of Canada lowered its price target from $3.00 to $2.00 and assigned a sector perform rating. Needham & Company LLC and CFRA also issued hold ratings with CFRA setting a $2.00 price objective. Currently, MarketBeat.com shows an average analyst rating of “Hold” with an average price target of $3.16.

Despite the negative share price movement, there was significant institutional activity. The Public Investment Fund, a director of the company, purchased 374,717,927 shares on October 30th at an average cost of $2.59 per share, representing a substantial increase in their ownership. Other institutional investors, including Charles Schwab Investment Management Inc., Bank of New York Mellon Corp, Point72 Italy S.r.l., Rhumbline Advisers, and Janus Henderson Group PLC, also adjusted their positions in Lucid Group during recent quarters. Corporate insiders hold 61.26% of the company’s stock, and institutional investors own 75.17%.

Lucid Group, a technology company focused on electric vehicles (EVs), powertrains, and battery systems, continues to operate with a market capitalization of $6.45 billion. The company’s financial ratios include a quick ratio of 3.26, a current ratio of 3.71, and a debt-to-equity ratio of 0.77. Its 50-day moving average is $2.68, and its 200-day moving average is $3.02.

**Note:** This news article is a summary based on the provided text and does not include the promotional material from MarketBeat.

Read More