Lucid Group (NASDAQ:LCID) Earns “Hold” Rating from Needham & Company LLC

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

Other equities analysts have also issued reports about the stock. Benchmark initiated coverage on shares of Lucid Group in a research report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target for the company. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Monday, November 11th. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $3.50 to $1.13 in a research report on Monday. Royal Bank of Canada reduced their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 19th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.73.

Lucid Group Stock Performance

LCID opened at $2.23 on Wednesday. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $6.72 billion, a PE ratio of -1.66 and a beta of 0.93. The firm has a 50 day moving average of $2.97 and a two-hundred day moving average of $2.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in Lucid Group by 5.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock worth $1,026,000 after purchasing an additional 17,230 shares during the period. Alpine Global Management LLC increased its stake in shares of Lucid Group by 7.4% during the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock worth $203,000 after buying an additional 4,653 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Lucid Group by 23.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,612,631 shares of the company’s stock worth $7,890,000 after buying an additional 504,171 shares during the period. Waverly Advisors LLC purchased a new stake in shares of Lucid Group during the fourth quarter worth approximately $35,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Lucid Group during the fourth quarter worth approximately $5,390,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.