Benchmark Reaffirms Buy Rating for Lucid Group (NASDAQ:LCID)

Benchmark reiterated their buy rating on shares of Lucid Group (NASDAQ:LCID) in a report published on Friday morning,Benzinga reports. Benchmark currently has a $5.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Stifel Nicolaus reduced their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.69.

Lucid Group Trading Up 2.9 %

Shares of LCID stock opened at $2.15 on Friday. Lucid Group has a 12 month low of $1.93 and a 12 month 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 company has a market cap of $6.48 billion, a PE ratio of -1.60 and a beta of 0.97. The business’s 50 day moving average is $2.85 and its two-hundred day moving average is $2.91.

Institutional Inflows and Outflows

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

Lucid Group Company Profile

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.