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

Lucid Group (NASDAQ:LCID) had its price objective cut by equities researchers at Stifel Nicolaus from $3.50 to $3.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 27.93% from the stock’s current price.

Several other brokerages also recently issued reports on LCID. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $3.50 to $1.13 in a research report on Monday. Benchmark started coverage on shares of Lucid Group in a report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target for the company. Bank of America lowered shares of 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. Royal Bank of Canada lowered their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. Finally, R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.73.

Lucid Group Stock Up 3.8 %

Shares of NASDAQ LCID traded up $0.09 on Thursday, hitting $2.35. The company had a trading volume of 46,732,423 shares, compared to its average volume of 83,502,391. The firm has a market capitalization of $7.06 billion, a P/E ratio of -1.75 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43. The business has a 50 day moving average of $2.98 and a two-hundred day moving average of $2.97.

Institutional Trading of Lucid Group

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