Lucid Group (NASDAQ:LCID) Earns Hold Rating from Analysts at TD Cowen

Stock analysts at TD Cowen began coverage on shares of Lucid Group (NASDAQ:LCID) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $2.30 price target on the stock. TD Cowen’s price objective suggests a potential upside of 10.05% from the stock’s current price.

LCID has been the subject of several other reports. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $3.00 to $1.00 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 Wednesday, February 26th. Benchmark initiated coverage on Lucid Group in a research note on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.69.

Lucid Group Trading Down 3.7 %

NASDAQ LCID opened at $2.09 on Friday. The stock’s 50 day moving average is $2.87 and its 200 day moving average is $2.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $6.29 billion, a PE ratio of -1.56 and a beta of 0.97. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.43.

Institutional Investors Weigh In On Lucid Group

Several large investors have recently bought and sold shares of LCID. Crumly & Associates Inc. bought a new stake in shares of Lucid Group in the third quarter worth approximately $38,000. Axim Planning & Wealth purchased a new stake in Lucid Group in the third quarter worth approximately $48,000. Caprock Group LLC grew its position in Lucid Group by 7.4% in the 3rd quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock worth $671,000 after purchasing an additional 13,159 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after buying an additional 2,335,452 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Lucid Group by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after buying an additional 6,374 shares during the period. 75.17% of the stock is currently owned by institutional investors.

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.