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

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.69.

Several equities research analysts recently weighed in on LCID shares. Royal Bank of Canada dropped their price objective on shares of 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. TD Cowen began coverage on Lucid Group in a research report on Friday, March 7th. They set a "hold" rating and a $2.30 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Benchmark restated a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Finally, Cowen started coverage on Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating on the stock.

Lucid Group Stock Performance

Shares of NASDAQ:LCID traded up $0.07 on Friday, reaching $2.16. 101,521,254 shares of the company's stock were exchanged, compared to its average volume of 90,234,109. The business's 50-day moving average is $2.81 and its two-hundred day moving average is $2.89. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of -1.62 and a beta of 0.97.

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Institutional Investors Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently bought and sold shares of LCID. Public Employees Retirement System of Ohio raised its holdings in shares of Lucid Group by 5.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company's stock worth $1,026,000 after purchasing an additional 17,230 shares in the last quarter. Alpine Global Management LLC increased its stake in Lucid Group by 7.4% in the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock worth $203,000 after purchasing an additional 4,653 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Lucid Group by 23.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,612,631 shares of the company's stock valued at $7,890,000 after buying an additional 504,171 shares in the last quarter. Waverly Advisors LLC acquired a new position in shares of Lucid Group in the fourth quarter worth about $35,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Lucid Group in the fourth quarter worth approximately $5,390,000. 75.17% of the stock is owned by institutional investors and hedge funds.

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.