Lucid Group, Inc. (NASDAQ:LCID) Receives $13.14 Consensus Price Target from Analysts

Lucid Group, Inc. (NASDAQ:LCID) has received an average rating of “Reduce” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $13.1429.

A number of equities research analysts have commented on the stock. Cantor Fitzgerald dropped their price objective on shares of Lucid Group from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Bank of America assumed coverage on shares of Lucid Group in a research report on Wednesday, March 4th. They set an “underperform” rating and a $10.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a research note on Monday, December 29th. Citigroup started coverage on Lucid Group in a report on Wednesday, March 18th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price target on shares of Lucid Group in a research note on Wednesday, February 25th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in Lucid Group by 11.1% in the second quarter. Rockefeller Capital Management L.P. now owns 340,533 shares of the company’s stock valued at $719,000 after purchasing an additional 34,116 shares in the last quarter. HBK Investments L P acquired a new stake in Lucid Group during the second quarter worth approximately $2,658,000. Highbridge Capital Management LLC acquired a new stake in Lucid Group during the second quarter worth approximately $3,245,000. Tudor Investment Corp ET AL purchased a new stake in shares of Lucid Group during the 3rd quarter worth approximately $1,361,978,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Lucid Group during the 3rd quarter worth approximately $2,248,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Up 2.5%

Shares of NASDAQ:LCID opened at $10.31 on Thursday. The firm’s 50 day moving average price is $10.32 and its 200 day moving average price is $14.31. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -0.85 and a beta of 1.12. Lucid Group has a fifty-two week low of $9.12 and a fifty-two week high of $33.70. The company has a quick ratio of 0.83, a current ratio of 1.25 and a debt-to-equity ratio of 3.00.

Lucid Group Company Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.