Investors Purchase High Volume of Call Options on Lucid Group (NASDAQ:LCID)

Lucid Group, Inc. (NASDAQ:LCID) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 203,316 call options on the company. This represents an increase of approximately 199% compared to the typical daily volume of 68,039 call options.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LCID shares. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research note on Tuesday, October 8th. Robert W. Baird restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Royal Bank of Canada decreased their price target on shares of 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. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.16.

Lucid Group Stock Up 14.8 %

Lucid Group stock opened at $3.02 on Friday. The firm has a 50 day moving average price of $2.39 and a 200-day moving average price of $2.98. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.49. The company has a market capitalization of $9.10 billion, a P/E ratio of -2.25 and a beta of 1.08.

Insider Transactions at Lucid Group

In related news, Director Public Investment Fund bought 374,717,927 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

A number of large investors have recently bought and sold shares of LCID. Point72 Italy S.r.l. purchased a new position in shares of Lucid Group in the third quarter valued at $3,209,000. Main Management ETF Advisors LLC bought a new position in Lucid Group in the 3rd quarter worth about $863,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares in the last quarter. CWM LLC lifted its holdings in shares of Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after buying an additional 6,771 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Lucid Group by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after acquiring an additional 6,374 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Company Profile

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.