Lucid Group (NASDAQ:LCID) Earns Buy Rating from Analysts at Benchmark

Research analysts at Benchmark initiated coverage on shares of Lucid Group (NASDAQ:LCID) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $5.00 price target on the stock. Benchmark’s price objective would suggest a potential upside of 85.87% from the stock’s current price.

A number of other research firms have also issued reports on LCID. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Royal Bank of Canada cut their price target 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. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, November 11th. Finally, Cfra set a $2.00 price objective on Lucid Group in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.24.

Lucid Group Stock Performance

Lucid Group stock opened at $2.69 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock’s 50 day moving average price is $2.85 and its 200 day moving average price is $2.98. The firm has a market capitalization of $8.10 billion, a PE ratio of -2.01 and a beta of 0.93. Lucid Group has a one year low of $1.93 and a one year high of $4.43.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Lucid Group during the second quarter worth $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group during the 4th quarter valued at $28,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group in the fourth quarter valued at approximately $31,000. Yousif Capital Management LLC acquired a new position in shares of Lucid Group during the fourth quarter valued at about $32,000. Finally, First National Corp MA ADV bought a new stake in Lucid Group during the 4th quarter worth approximately $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.