Lucid Group (NASDAQ:LCID) Rating Lowered to Sell at Redburn Atlantic

Redburn Atlantic lowered shares of Lucid Group (NASDAQ:LCID) from a neutral rating to a sell rating in a research note issued to investors on Monday, MarketBeat reports. Redburn Atlantic currently has $1.13 price objective on the stock, down from their previous price objective of $3.50.

A number of other equities analysts also recently weighed in on the company. Benchmark initiated coverage on Lucid Group in a research report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target on the stock. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. Royal Bank of Canada decreased their target price 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average target price of $2.90.

Lucid Group Stock Down 9.2 %

NASDAQ:LCID opened at $2.78 on Monday. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of -2.07 and a beta of 0.93. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.43. The stock’s 50 day moving average price is $2.99 and its two-hundred day moving average price is $2.97. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Hedge Funds Weigh In On Lucid Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its holdings in Lucid Group by 5.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock valued at $1,026,000 after acquiring an additional 17,230 shares during the last quarter. Alpine Global Management LLC increased its stake in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Lucid Group by 23.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,612,631 shares of the company’s stock valued at $7,890,000 after purchasing an additional 504,171 shares in the last quarter. Waverly Advisors LLC acquired a new position in Lucid Group during the 4th quarter worth approximately $35,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Lucid Group during the fourth quarter worth approximately $5,390,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.