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

Lucid Group (NASDAQ:LCID) had its target price cut by research analysts at Stifel Nicolaus from $3.50 to $3.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 35.14% from the company’s current price.

LCID has been the subject of several other research reports. Benchmark began coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective for the company. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.00 to $1.00 in a report on Wednesday. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Finally, Royal Bank of Canada dropped their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.73.

Lucid Group Trading Down 0.4 %

NASDAQ LCID opened at $2.22 on Thursday. The firm has a market cap of $6.69 billion, a PE ratio of -1.66 and a beta of 0.93. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43. The stock has a 50-day moving average of $2.96 and a 200-day moving average of $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.

Institutional Trading of Lucid Group

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Lucid Group by 5.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock valued at $1,026,000 after purchasing an additional 17,230 shares during the period. Alpine Global Management LLC lifted its position 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 buying an additional 4,653 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Lucid Group by 23.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,612,631 shares of the company’s stock valued at $7,890,000 after buying an additional 504,171 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Lucid Group in the 4th quarter worth about $35,000. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Lucid Group in the 4th quarter worth about $5,390,000. 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.