Lucid Group (NASDAQ:LCID) Shares Gap Up to $21.17

Lucid Group Inc (NASDAQ:LCID) shares gapped up before the market opened on Friday . The stock had previously closed at 21.17, but opened at 22.86. Lucid Group shares last traded at 22.25, with a volume of 367,369 shares.

A number of brokerages have recently issued reports on LCID. Citigroup began coverage on shares of Lucid Group in a research report on Thursday, September 9th. They set a “buy” rating and a $28.00 target price on the stock. Morgan Stanley assumed coverage on Lucid Group in a report on Monday, September 13th. They set an “underweight” rating and a $12.00 price target for the company. Finally, Bank of America assumed coverage on Lucid Group in a report on Wednesday. They set a “buy” rating and a $30.00 price target for the company.

An institutional investor recently bought a new position in Lucid Group stock. Marshall Wace LLP purchased a new position in shares of Lucid Group Inc (NASDAQ:LCID) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 110,323 shares of the company’s stock, valued at approximately $3,180,000. Hedge funds and other institutional investors own 1.08% of the company’s stock.

Lucid Group Company Profile (NASDAQ:LCID)

Churchill Capital Corp IV was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

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