Lucid Group (NASDAQ:LCID) Given “Buy” Rating at Benchmark

Lucid Group (NASDAQ:LCID)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a note issued to investors on Friday,Benzinga reports. They currently have a $5.00 target price on the stock. Benchmark’s price objective would indicate a potential upside of 136.41% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada dropped 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 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 report on Wednesday, February 26th. 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. TD Cowen began coverage on shares of Lucid Group in a research note on Friday. They issued a “hold” rating and a $2.30 target price for the company. Finally, Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their price target for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.69.

Lucid Group Stock Up 1.2 %

Shares of Lucid Group stock opened at $2.12 on Friday. 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. The stock has a 50-day moving average price of $2.87 and a 200 day moving average price of $2.93. The company has a market cap of $6.37 billion, a P/E ratio of -1.56 and a beta of 0.97.

Institutional Investors Weigh In On Lucid Group

Several hedge funds and other institutional investors have recently made changes to their positions in LCID. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $28,000. Accredited Investors Inc. bought a new position in shares of Lucid Group in the fourth quarter valued at approximately $30,000. Proficio Capital Partners LLC acquired a new position in shares of Lucid Group in the 4th quarter worth approximately $31,000. DRW Securities LLC bought a new stake in Lucid Group during the 4th quarter worth approximately $31,000. Finally, First National Corp MA ADV acquired a new stake in Lucid Group during the 4th quarter valued at $32,000. 75.17% of the stock is owned by institutional investors and hedge funds.

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.