Stifel Nicolaus Lowers Lucid Group (NASDAQ:LCID) Price Target to $3.00

Lucid Group (NASDAQ:LCID) had its price objective decreased by research analysts at Stifel Nicolaus from $3.50 to $3.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 35.14% from the stock’s previous close.

LCID has been the subject of a number of other reports. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Wednesday. Benchmark began coverage on shares of Lucid Group in a research report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target for the company. Royal Bank of Canada lowered their price objective on 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. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Wednesday. Finally, Redburn Atlantic cut 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lucid Group has an average rating of “Hold” and a consensus target price of $2.73.

Lucid Group Trading Down 0.4 %

NASDAQ LCID opened at $2.22 on Thursday. The stock’s fifty day moving average price is $2.96 and its 200-day moving average price is $2.96. 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 stock has a market cap of $6.69 billion, a P/E ratio of -1.66 and a beta of 0.93. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43.

Institutional Trading of Lucid Group

A number of hedge funds have recently bought and sold shares of LCID. Point72 Italy S.r.l. bought a new stake in shares of Lucid Group during the 3rd quarter valued at about $3,209,000. Main Management ETF Advisors LLC purchased a new position in shares of Lucid Group in the third quarter worth approximately $863,000. Charles Schwab Investment Management Inc. grew its position in Lucid Group by 84.6% during the third 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 period. Nisa Investment Advisors LLC increased its holdings in Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock valued at $771,000 after buying an additional 249,500 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Lucid Group in the fourth quarter worth approximately $301,000. 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.