Needham & Company LLC Reaffirms Hold Rating for Lucid Group (NASDAQ:LCID)

Needham & Company LLC reaffirmed their hold rating on shares of Lucid Group (NASDAQ:LCID) in a research report released on Wednesday,Benzinga reports.

A number of other analysts have also recently weighed in on LCID. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $3.50 to $1.13 in a research note on Monday. Benchmark assumed coverage on Lucid Group in a research report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective for the company. Royal Bank of Canada lowered their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lucid Group currently has an average rating of “Hold” and an average price target of $2.73.

Lucid Group Price Performance

NASDAQ LCID opened at $2.26 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The firm has a market cap of $6.79 billion, a P/E ratio of -1.68 and a beta of 0.93. The stock’s 50-day moving average is $2.98 and its two-hundred day moving average is $2.97. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently bought and sold shares of the business. Pine Valley Investments Ltd Liability Co raised its position in Lucid Group by 27.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock valued at $62,000 after purchasing an additional 3,816 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Lucid Group by 43.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company’s stock valued at $43,000 after buying an additional 4,296 shares during the last quarter. Sei Investments Co. lifted its position in Lucid Group by 14.0% during the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock worth $109,000 after buying an additional 4,431 shares in the last quarter. Voya Investment Management LLC grew its holdings in Lucid Group by 4.0% during the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock worth $363,000 after acquiring an additional 4,591 shares during the last quarter. Finally, Alpine Global Management LLC increased its position in Lucid Group by 7.4% in the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock valued at $203,000 after acquiring an additional 4,653 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

About Lucid Group

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.