Lucid Group (NASDAQ:LCID - Free Report) had its price target increased by Robert W. Baird from $2.00 to $3.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.
A number of other research firms have also recently weighed in on LCID. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, April 3rd. 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. Bank of America downgraded Lucid Group from a "neutral" rating to an "underperform" rating and cut their target price for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Finally, Benchmark reissued a "buy" rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $2.68.
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Lucid Group Stock Performance
Shares of NASDAQ LCID traded up $0.06 during mid-day trading on Monday, hitting $2.45. The company had a trading volume of 60,531,153 shares, compared to its average volume of 62,349,075. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of -1.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The firm's 50 day simple moving average is $2.43 and its two-hundred day simple moving average is $2.60.
Institutional Investors Weigh In On Lucid Group
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Investment Counsel LLC acquired a new position in shares of Lucid Group in the 1st quarter worth approximately $25,000. Grimes & Company Inc. acquired a new position in Lucid Group in the first quarter worth approximately $27,000. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group in the fourth quarter valued at $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group during the 4th quarter valued at $30,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group during the 4th quarter valued at $31,000. 75.17% of the stock is currently owned by institutional investors.
Lucid Group Company Profile
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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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