Mon Jan 06 14:30:00 UTC 2025: ## Lucid Group Stock Rises 7.6% Despite Mixed Analyst Ratings

**Sioux Falls, SD – November 24, 2023** – Shares of electric vehicle maker Lucid Group (LCID) surged 7.6% on Friday, closing at $3.26 after reaching an intraday high of $3.27. Trading volume, however, was significantly lower than average, at 36,378,723 shares, representing a 54% decrease.

The price increase comes amidst a mixed bag of analyst opinions. While some firms maintain a hold rating, others have lowered price targets. Royal Bank of Canada recently reduced its price target from $3.00 to $2.00, citing a “sector perform” rating. Conversely, Cantor Fitzgerald reaffirmed a neutral rating but maintained a $4.00 target price. The overall analyst sentiment, according to MarketBeat.com, remains a “Hold” rating with an average price target of $3.16.

Adding to the complexity, a significant insider transaction occurred on October 30th. The Public Investment Fund, a director of Lucid, purchased 374,717,927 shares at an average price of $2.59, increasing its stake substantially.

Institutional investors have also been active, with several firms adjusting their holdings in the third quarter. Notable changes include acquisitions by Point72 Italy S.r.l. and Main Management ETF Advisors LLC, as well as increased positions by Charles Schwab Investment Management Inc. and CWM LLC. Currently, institutional investors own 75.17% of Lucid’s stock.

Lucid Group’s market cap stands at $9.91 billion. The company, which designs, engineers, manufactures, and sells electric vehicles and related technology, boasts a debt-to-equity ratio of 0.77 and a price-to-earnings ratio of -2.46. Despite the positive day’s trading, MarketBeat highlights that top-rated analysts are recommending other stocks over Lucid Group at the current time.

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