Stifel Nicolaus Has Lowered Expectations for Lucid Group (NASDAQ:LCID) Stock Price

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

Several other equities research analysts also recently commented on LCID. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Wednesday. Royal Bank of Canada cut 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. Bank of America cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $3.00 to $1.00 in a research note on Wednesday. Benchmark began coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.73.

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $2.23 on Thursday. The company has a 50 day moving average price of $2.97 and a 200 day moving average price of $2.96. The firm has a market capitalization of $6.72 billion, a P/E ratio of -1.66 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LCID. Pine Valley Investments Ltd Liability Co increased its stake in shares of 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in 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 purchasing an additional 4,296 shares during the period. Sei Investments Co. increased its position in shares of Lucid Group by 14.0% in the fourth quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock valued at $109,000 after buying an additional 4,431 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of 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 buying an additional 4,591 shares during the period. Finally, Alpine Global Management LLC lifted its position in shares of Lucid Group by 7.4% during the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock valued at $203,000 after buying an additional 4,653 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.