Analysts Set Lucid Group, Inc. (NASDAQ:LCID) Target Price at $2.69

Lucid Group, Inc. (NASDAQ:LCID) has earned an average rating of “Reduce” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $2.69.

A number of brokerages recently weighed in on LCID. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Wednesday, February 26th. Cowen began coverage on Lucid Group in a report on Thursday, March 6th. They set a “hold” rating on the stock. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $3.50 to $1.13 in a report on Monday, February 24th. Finally, Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $3.00 to $1.00 in a report on Wednesday, February 26th.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.09 on Friday. The business’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $2.85. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.43. The stock has a market cap of $6.34 billion, a P/E ratio of -1.56 and a beta of 0.97. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently made changes to their positions in LCID. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $28,000. Accredited Investors Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $31,000. DRW Securities LLC bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $32,000. 75.17% of the stock is currently owned by 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.