Lucid Group's (LCID) Hold Rating Reiterated at Needham & Company LLC

Lucid Group (NASDAQ:LCID - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

LCID has been the subject of a number of other research reports. Benchmark assumed coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a "buy" rating and a $5.00 target price for the company. Bank of America downgraded shares of Lucid Group from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $3.00 to $1.00 in a research note on Wednesday. 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. Cantor Fitzgerald reiterated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a report on Tuesday, January 7th. Finally, Redburn Atlantic cut shares of Lucid Group from a "neutral" rating to a "sell" rating and cut their price target for the company from $3.50 to $1.13 in a report on Monday, February 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lucid Group has a consensus rating of "Hold" and a consensus price target of $2.73.

Lucid Group Stock Down 0.4 %

Shares of NASDAQ LCID traded down $0.01 on Wednesday, reaching $2.22. 135,864,308 shares of the company's stock traded hands, compared to its average volume of 87,222,867. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The business's 50 day simple moving average is $2.96 and its two-hundred day simple moving average is $2.96. The company has a market cap of $6.69 billion, a price-to-earnings ratio of -1.66 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Lucid Group by 5.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company's stock worth $1,026,000 after acquiring an additional 17,230 shares during the last quarter. Alpine Global Management LLC raised its position in shares of Lucid Group by 7.4% during the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock valued at $203,000 after purchasing an additional 4,653 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Lucid Group by 23.9% during the 4th 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 purchasing an additional 504,171 shares during the period. Waverly Advisors LLC bought a new stake in shares of Lucid Group during the 4th quarter valued at $35,000. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Lucid Group during the 4th quarter valued at $5,390,000. Hedge funds and other institutional investors own 75.17% of the company's stock.

About Lucid Group

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.