Lucid Group (NASDAQ:LCID) Given New $3.00 Price Target at Stifel Nicolaus

Lucid Group (NASDAQ:LCID - Get Free Report) had its price objective dropped by equities research analysts at Stifel Nicolaus from $3.50 to $3.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 35.14% from the company's previous close.

LCID has been the topic of several other research reports. R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a report on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a report on Wednesday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research note on Tuesday, November 19th. Finally, Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and reduced their target price for the company from $3.50 to $1.13 in a report on Monday, February 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $2.73.

Lucid Group Price Performance

Shares of NASDAQ LCID traded down $0.01 during mid-day trading on Thursday, reaching $2.22. The company had a trading volume of 135,864,308 shares, compared to its average volume of 87,222,867. The company has a 50-day moving average price of $2.96 and a two-hundred day moving average price of $2.96. The stock has a market cap of $6.69 billion, a PE ratio of -1.66 and a beta of 0.93. The company has a current ratio of 3.71, a quick ratio of 3.26 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Italy S.r.l. bought a new stake in Lucid Group in the third quarter worth $3,209,000. Main Management ETF Advisors LLC acquired a new stake in Lucid Group in the 3rd quarter worth approximately $863,000. Charles Schwab Investment Management Inc. grew its holdings in Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Lucid Group by 4,301.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock valued at $771,000 after purchasing an additional 249,500 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth $301,000. Hedge funds and other institutional investors own 75.17% of the company's stock.

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.