Lucid Group’s (LCID) Buy Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Lucid Group (NASDAQ:LCID) in a research report released on Friday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

Several other analysts also recently issued reports on LCID. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $3.00 to $1.00 in a report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Monday, November 11th. 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. Finally, Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Three 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.69.

Lucid Group Price Performance

NASDAQ LCID opened at $2.15 on Friday. The stock’s 50-day moving average price is $2.85 and its two-hundred day moving average price is $2.91. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.48 billion, a PE 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 made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in shares of Lucid Group by 5.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock valued at $1,026,000 after buying an additional 17,230 shares in the last quarter. Alpine Global Management LLC grew its holdings in Lucid Group by 7.4% during the fourth 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Lucid Group by 23.9% during the fourth 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 last quarter. Waverly Advisors LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $35,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $5,390,000. 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.