Lucid Group (NASDAQ:LCID) Price Target Raised to $3.00 at Robert W. Baird

Lucid Group (NASDAQ:LCID) had its price objective hoisted by Robert W. Baird from $2.00 to $3.00 in a research note released on Monday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

LCID has been the subject of a number of other research reports. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Stifel Nicolaus decreased their price target on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a report on Tuesday, March 18th. Cowen assumed coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a “hold” rating for the company. Finally, Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their target price for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and an average target price of $2.69.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.32 on Monday. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43. The stock has a market cap of $7.03 billion, a P/E ratio of -1.73 and a beta of 0.88. 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 50-day moving average of $2.47 and a two-hundred day moving average of $2.61.

Institutional Trading of Lucid Group

Several hedge funds have recently made changes to their positions in LCID. Sterling Investment Counsel LLC bought a new position in Lucid Group during the 1st quarter worth $25,000. Kingswood Wealth Advisors LLC grew its position in shares of Lucid Group by 89.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 21,440 shares of the company’s stock worth $54,000 after acquiring an additional 10,110 shares during the last quarter. Grimes & Company Inc. acquired a new stake in shares of Lucid Group in the 1st quarter worth about $27,000. D Orazio & Associates Inc. bought a new stake in Lucid Group in the 1st quarter valued at about $44,000. Finally, Brighton Jones LLC acquired a new position in Lucid Group during the 1st quarter valued at about $65,000. Institutional investors 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.