Lucid Group, Inc. (NASDAQ:LCID) Receives Average Recommendation of "Hold" from Brokerages

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has earned a consensus rating of "Hold" from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.24.

Several equities analysts have weighed in on LCID shares. Benchmark began coverage on Lucid Group in a report on Wednesday, February 12th. They set a "buy" rating and a $5.00 price objective for the company. Royal Bank of Canada lowered their price objective on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research note on Tuesday, November 19th. R. F. Lafferty upgraded shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th.

Institutional Investors Weigh In On Lucid Group

Large investors have recently added to or reduced their stakes in the business. Point72 Italy S.r.l. purchased a new position in shares of Lucid Group during the third quarter worth about $3,209,000. Main Management ETF Advisors LLC purchased a new position in Lucid Group in the 3rd quarter worth approximately $863,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Lucid Group by 84.6% in the 3rd 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 during the last quarter. CWM LLC raised its position in shares of Lucid Group by 24.6% during the 3rd quarter. CWM LLC now owns 34,350 shares of the company's stock valued at $121,000 after buying an additional 6,771 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lucid Group by 4,301.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after acquiring an additional 249,500 shares during the last quarter. Institutional investors own 75.17% of the company's stock.

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Lucid Group Stock Performance

Shares of Lucid Group stock traded up $0.26 on Wednesday, reaching $3.57. 37,041,614 shares of the company traded hands, compared to its average volume of 78,846,961. The company has a 50 day moving average of $2.92 and a 200 day moving average of $2.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43. The firm has a market capitalization of $10.74 billion, a PE ratio of -2.68 and a beta of 0.93.

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.