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

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has earned a consensus recommendation of "Hold" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $2.69.

A number of analysts recently issued reports on LCID shares. Benchmark restated a "buy" rating and set a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Cowen began coverage on Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating for the company. TD Cowen started coverage on Lucid Group in a research note on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research note on Thursday, February 27th.

Lucid Group Trading Down 3.3 %

NASDAQ:LCID traded down $0.08 on Thursday, reaching $2.32. The stock had a trading volume of 212,280,450 shares, compared to its average volume of 57,402,892. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -1.73 and a beta of 0.97. The firm's fifty day moving average is $2.58 and its two-hundred day moving average is $2.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of Lucid Group during the 4th quarter valued at about $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group in the fourth quarter valued at approximately $30,000. Proficio Capital Partners LLC purchased a new stake in shares of Lucid Group during the fourth quarter valued at approximately $31,000. DRW Securities LLC purchased a new stake in shares of Lucid Group during the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new position in shares of Lucid Group during the fourth quarter worth $32,000. Institutional investors and hedge funds own 75.17% of the company's stock.

About Lucid Group

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.