Lucid Group, Inc. (NASDAQ:LCID) Given Average Rating of “Hold” by Brokerages

Shares of Lucid Group, Inc. (NASDAQ:LCID) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $3.04.

Several research analysts recently commented on LCID shares. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, November 11th. Royal Bank of Canada reduced 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 research report on Tuesday, November 19th. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. Cfra set a $2.00 price target on shares of Lucid Group in a research report on Thursday, October 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.69 on Wednesday. The firm’s 50-day moving average is $2.85 and its 200-day moving average is $2.98. The company has a market cap of $8.10 billion, a price-to-earnings ratio of -2.01 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43.

Institutional Trading of Lucid Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group during the fourth quarter worth $28,000. Proficio Capital Partners LLC bought a new position in shares of Lucid Group during the fourth quarter worth $31,000. First National Corp MA ADV bought a new position in shares of Lucid Group during the fourth quarter worth $32,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Lucid Group during the fourth quarter worth about $32,000. Finally, Yousif Capital Management LLC acquired a new stake in shares of Lucid Group during the fourth quarter worth about $32,000. 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.