Lucid Group, Inc. (NASDAQ:LCID) Receives $9.56 Average Price Target from Analysts

by · The Cerbat Gem

Shares of Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) have been given an average rating of “Reduce” by the eleven analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $9.5556.

A number of research analysts have weighed in on the stock. Citigroup reissued a “buy” rating and set a $14.00 target price (down from $17.00) on shares of Lucid Group in a research report on Friday, May 15th. Evercore set a $6.00 price target on Lucid Group in a research report on Monday, May 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $7.00 price objective (down from $8.00) on shares of Lucid Group in a research note on Monday, July 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. Finally, TD Cowen decreased their target price on Lucid Group from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th.

Read Our Latest Research Report on Lucid Group

Key Stories Impacting Lucid Group

Here are the key news stories impacting Lucid Group this week:

Lucid Group Price Performance

NASDAQ LCID opened at $6.30 on Wednesday. Lucid Group has a 1 year low of $2.37 and a 1 year high of $30.10. The company has a fifty day simple moving average of $5.86 and a 200 day simple moving average of $8.14. The company has a current ratio of 1.02, a quick ratio of 0.48 and a debt-to-equity ratio of 3.00. The company has a market cap of $2.46 billion, a P/E ratio of -0.48 and a beta of 0.83.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of Lucid Group by 1,574.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock worth $28,000 after acquiring an additional 2,740 shares during the last quarter. Brown Advisory Inc. increased its position in Lucid Group by 47.5% during the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock worth $33,000 after acquiring an additional 5,000 shares during the period. Jump Financial LLC acquired a new position in Lucid Group during the 2nd quarter valued at $41,000. Worldquant Millennium Advisors LLC acquired a new position in Lucid Group during the 2nd quarter valued at $59,000. Finally, Leonteq Securities AG bought a new stake in Lucid Group in the 4th quarter valued at $67,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

About Lucid Group

(Get Free Report)

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.

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