Lucid Group, Inc. (NASDAQ:LCID – Get Free Report) has received a consensus rating of “Reduce” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $2.69.
Several equities research analysts recently weighed in on LCID shares. Cowen started coverage on Lucid Group in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Stifel Nicolaus lowered their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, TD Cowen assumed coverage on Lucid Group in a research note on Friday, March 7th. They set a “hold” rating and a $2.30 price objective for the company.
Get Our Latest Stock Analysis on LCID
Lucid Group Trading Up 3.0 %
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of LCID. Public Investment Fund raised its stake in shares of Lucid Group by 28.8% in the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after purchasing an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. increased its position in Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock valued at $333,163,000 after acquiring an additional 26,172,852 shares during the last quarter. Two Sigma Investments LP increased its position in Lucid Group by 4,320.7% during the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock valued at $47,873,000 after acquiring an additional 15,493,320 shares during the last quarter. Renaissance Technologies LLC increased its position in Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock valued at $49,950,000 after acquiring an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in Lucid Group during the fourth quarter valued at $34,123,000. 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.
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