Lucid Group, Inc. (NASDAQ:LCID) Receives $2.68 Consensus Price Target from Brokerages

Shares of Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) have earned an average rating of "Hold" from the twelve research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.68.

LCID has been the subject of a number of recent analyst reports. Robert W. Baird lifted their target price on Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Redburn Atlantic cut shares of Lucid Group from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Stifel Nicolaus decreased their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. Finally, TD Cowen began coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock.

Lucid Group Stock Performance

Shares of NASDAQ LCID remained flat at $2.53 during mid-day trading on Monday. The stock had a trading volume of 64,352,353 shares, compared to its average volume of 64,210,642. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group has a one year low of $1.93 and a one year high of $4.43. The firm has a market capitalization of $7.67 billion, a P/E ratio of -1.89 and a beta of 0.88. The business's 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.55.

Hedge Funds Weigh In On Lucid Group

Several institutional investors have recently modified their holdings of LCID. Sterling Investment Counsel LLC purchased a new stake in Lucid Group in the first quarter worth approximately $25,000. Grimes & Company Inc. purchased a new stake in shares of Lucid Group in the 1st quarter valued at $27,000. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group during the 4th quarter valued at $28,000. Accredited Investors Inc. bought a new position in shares of Lucid Group during the 4th quarter valued at $30,000. Finally, Proficio Capital Partners LLC purchased a new position in Lucid Group in the 4th quarter worth $31,000. 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.