Lucid Group, Inc. (NASDAQ:LCID) shares are moving higher on heavy trading volume on Wednesday.
What To Know:
Shares of LCID are trading more than 3% higher on Wednesday and have gained more than 12% over the last month.
On Monday, Bank of America Securities analyst John Murphy reinstated Lucid Group with a Neutral rating and announced a price target of $8 for LCID.
According to data from Benzinga Pro, more than 48 million shares of LCID have been traded, compared to the stock’s 100-day average of 38.47 million shares. Lucid shares also have considerable short interest with 14.85% of available shares being sold short.
Lucid Group will release its second quarter 2023 financial reports on Aug. 7 after the close of the market.
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LCID Price Action: According to data from Benzinga Pro, Lucid Group shares are trading 2.69% higher at $7.23 at the time of publication.
Image: Joenomias from Pixabay
