Lucid Group’s (LCID) “Hold” Rating Reiterated at Needham & Company LLC

Lucid Group (NASDAQ:LCID)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

A number of other analysts have also recently commented on the stock. R. F. Lafferty raised shares of 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. Benchmark started coverage on Lucid Group in a research note on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective for the company. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $3.00 to $1.00 in a research report on Wednesday. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $3.50 to $1.13 in a report on Monday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average price target of $2.73.

Lucid Group Price Performance

NASDAQ LCID opened at $2.61 on Wednesday. The company has a 50-day moving average price of $2.99 and a 200-day moving average price of $2.97. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $7.86 billion, a P/E ratio of -1.95 and a beta of 0.93.

Institutional Trading of Lucid Group

Several institutional investors have recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co lifted its holdings in Lucid Group by 27.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after purchasing an additional 3,816 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Lucid Group by 43.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company’s stock valued at $43,000 after buying an additional 4,296 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Lucid Group by 14.0% in the fourth quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock worth $109,000 after buying an additional 4,431 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Lucid Group by 4.0% during the fourth quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock worth $363,000 after acquiring an additional 4,591 shares during the last quarter. Finally, Alpine Global Management LLC grew its stake in Lucid Group by 7.4% during the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock valued at $203,000 after acquiring an additional 4,653 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.