Benchmark Reiterates "Buy" Rating for Lucid Group (NASDAQ:LCID)

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 presently have a $5.00 price target on the stock. Benchmark's price objective indicates a potential upside of 140.38% from the stock's current price.

Several other analysts have also commented on the stock. R. F. Lafferty raised shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target for the company in a research report on Monday, November 11th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a report on Tuesday, November 19th. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $3.50 to $1.13 in a report on Monday, February 24th. Finally, Stifel Nicolaus decreased their price target on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Three 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's stock. According to data from MarketBeat.com, Lucid Group has a consensus rating of "Hold" and an average price target of $2.69.

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Lucid Group Stock Down 3.3 %

Shares of LCID traded down $0.07 during trading hours on Friday, hitting $2.08. The company had a trading volume of 127,297,395 shares, compared to its average volume of 89,475,102. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $6.26 billion, a PE ratio of -1.55 and a beta of 0.97. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The company's fifty day moving average price is $2.85 and its two-hundred day moving average price is $2.91.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group during the 4th quarter worth approximately $28,000. Accredited Investors Inc. purchased a new stake in Lucid Group during the fourth quarter worth $30,000. Proficio Capital Partners LLC purchased a new position in Lucid Group in the fourth quarter valued at $31,000. DRW Securities LLC acquired a new position in shares of Lucid Group in the fourth quarter worth about $31,000. Finally, First National Corp MA ADV acquired a new position in shares of Lucid Group in the fourth quarter worth about $32,000. 75.17% of the stock is currently 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.