Lucid Group (NASDAQ:LCID) Upgraded by Morgan Stanley to Equal Weight Rating

Lucid Group (NASDAQ:LCIDGet Free Report) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $3.00 target price on the stock. Morgan Stanley’s price target suggests a potential upside of 38.89% from the stock’s current price.

LCID has been the topic of a number of other research reports. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. TD Cowen initiated coverage on Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.69.

Read Our Latest Research Report on Lucid Group

Lucid Group Stock Up 3.3 %

Shares of LCID stock opened at $2.16 on Tuesday. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -1.61 and a beta of 0.97. The firm’s 50-day moving average is $2.72 and its 200-day moving average is $2.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Institutional Trading of Lucid Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Italy S.r.l. acquired a new stake in shares of Lucid Group in the 3rd quarter worth about $3,209,000. Main Management ETF Advisors LLC purchased a new stake in Lucid Group in the 3rd quarter valued at $863,000. Charles Schwab Investment Management Inc. lifted its stake in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after acquiring an additional 2,335,452 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Lucid Group by 4,301.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after acquiring an additional 249,500 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Lucid Group during the fourth quarter worth about $301,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Lucid Group (NASDAQ:LCID)

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