Lucid Group (NASDAQ:LCID) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $2.30 price target on the stock.

A number of other research analysts also recently weighed in on the company. Benchmark started coverage on Lucid Group in a report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target on the stock. Royal Bank of Canada lowered their target price on 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Wednesday, February 26th. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and decreased their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.69.

Lucid Group Stock Up 2.9 %

Shares of Lucid Group stock opened at $2.15 on Friday. The business’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $2.91. 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 company has a market capitalization of $6.48 billion, a P/E ratio of -1.60 and a beta of 0.97. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43.

Institutional Investors Weigh In On Lucid Group

Several large investors have recently modified their holdings of the stock. Public Investment Fund raised its position in shares of Lucid Group by 28.8% during the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock valued at $5,348,084,000 after buying an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Lucid Group by 31.1% in the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock valued at $333,163,000 after acquiring an additional 26,172,852 shares during the period. Geode Capital Management LLC increased its position in shares of Lucid Group by 31.4% in the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock valued at $61,214,000 after acquiring an additional 4,844,782 shares during the period. Renaissance Technologies LLC increased its position in shares of Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock valued at $49,950,000 after acquiring an additional 12,803,987 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock valued at $47,873,000 after purchasing an additional 15,493,320 shares in the last quarter. 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.