Analysts Set Lucid Group, Inc. (NASDAQ:LCID) Price Target at $2.68

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has been assigned an average recommendation of "Hold" from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $2.68.

Several analysts have recently commented on LCID shares. Robert W. Baird raised their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Cowen started coverage on shares of Lucid Group in a research report on Thursday, March 6th. They set a "hold" rating for the company. Benchmark reaffirmed a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a research report on Friday, March 7th. TD Cowen started coverage on Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 target price on the stock. Finally, Stifel Nicolaus cut their target price on Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th.

Institutional Investors Weigh In On Lucid Group

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Lucid Group in the 4th quarter worth about $780,000. XTX Topco Ltd grew its position in Lucid Group by 395.7% in the 4th quarter. XTX Topco Ltd now owns 849,140 shares of the company's stock worth $2,564,000 after purchasing an additional 677,846 shares in the last quarter. Norges Bank bought a new stake in Lucid Group in the 4th quarter worth about $9,446,000. Nisa Investment Advisors LLC grew its position in Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after purchasing an additional 249,500 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after purchasing an additional 12,803,987 shares in the last quarter. 75.17% of the stock is owned by institutional investors.

Lucid Group Trading Up 1.2 %

Shares of LCID stock traded up $0.03 during trading hours on Monday, hitting $2.53. 75,416,596 shares of the company were exchanged, compared to its average volume of 62,961,863. The firm has a market cap of $7.67 billion, a P/E ratio of -1.89 and a beta of 0.88. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a 50 day simple moving average of $2.38 and a two-hundred day simple moving average of $2.57.

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.