Lucid Group (NASDAQ:LCID - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Benchmark in a report issued on Friday,Benzinga reports. They currently have a $5.00 price target on the stock. Benchmark's price target indicates a potential upside of 139.23% from the company's previous close.
A number of other equities research analysts have also issued reports on the company. Bank of America lowered Lucid Group from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Redburn Atlantic downgraded Lucid Group from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Cantor Fitzgerald reiterated a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a research report on Wednesday, February 26th. TD Cowen started coverage on shares of Lucid Group in a research note on Friday. They issued a "hold" rating and a $2.30 target price for the company. Finally, Stifel Nicolaus decreased their price target on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2.69.
Get Our Latest Analysis on LCID
Lucid Group Price Performance
Shares of NASDAQ LCID traded up $0.01 on Friday, hitting $2.09. The company's stock had a trading volume of 115,298,254 shares, compared to its average volume of 90,049,648. The stock has a 50 day moving average of $2.83 and a 200-day moving average of $2.90. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of -1.56 and a beta of 0.97. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.
Institutional Investors Weigh In On Lucid Group
A number of institutional investors have recently added to or reduced their stakes in the company. Public Investment Fund lifted its stake in shares of Lucid Group by 28.8% in the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after purchasing an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. lifted its position in Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after buying an additional 26,172,852 shares in the last quarter. Geode Capital Management LLC lifted its position in Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock valued at $61,214,000 after buying an additional 4,844,782 shares in the last quarter. Renaissance Technologies LLC grew its stake in Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after buying an additional 12,803,987 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Lucid Group by 4,320.7% in the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after acquiring an additional 15,493,320 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company's stock.
About Lucid Group
(
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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.
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