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

Lucid Group (NASDAQ:LCID) had its price target decreased by Stifel Nicolaus from $3.50 to $3.00 in a research report sent to investors on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research firms also recently commented on LCID. Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $3.00 to $1.00 in a research note on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Wednesday. Benchmark started coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Royal Bank of Canada reduced 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 assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus 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. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The firm has a fifty day simple moving average of $2.96 and a 200-day simple 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. The company has a market capitalization of $6.69 billion, a P/E ratio of -1.66 and a beta of 0.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Lucid Group in the fourth quarter valued at $28,000. Accredited Investors Inc. purchased a new position in Lucid Group in the fourth quarter valued at $30,000. Proficio Capital Partners LLC purchased a new position in Lucid Group in the fourth quarter valued at $31,000. DRW Securities LLC purchased a new position in Lucid Group in the fourth quarter valued at $31,000. Finally, First National Corp MA ADV purchased a new position in Lucid Group in the fourth quarter valued at $32,000. Hedge funds and other institutional investors 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.