Lucid Group (NASDAQ:LCID) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Lucid Group (NASDAQ:LCID - Free Report) from an underweight rating to an equal weight rating in a report issued on Tuesday, MarketBeat Ratings reports. They currently have $3.00 price target on the stock.

Several other analysts have also weighed in on LCID. Benchmark restated a "buy" rating and issued a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Cowen initiated coverage on Lucid Group in a report on Thursday, March 6th. They issued a "hold" rating for the company. TD Cowen initiated coverage on Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price objective for the company. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Finally, Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $3.50 to $1.13 in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Lucid Group has a consensus rating of "Hold" and an average price target of $2.69.

Lucid Group Stock Performance

LCID stock traded up $0.14 during trading on Tuesday, reaching $2.42. 98,384,958 shares of the company's stock were exchanged, compared to its average volume of 54,452,410. 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 1-year low of $1.93 and a 1-year high of $4.43. The company's fifty day moving average price is $2.67 and its 200-day moving average price is $2.80. The firm has a market cap of $7.34 billion, a PE ratio of -1.81 and a beta of 0.97.

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Institutional Investors Weigh In On Lucid Group

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

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.