Lucid Group (NASDAQ:LCID) Rating Lowered to “Strong Sell” at Zacks Research

Lucid Group (NASDAQ:LCIDGet Free Report) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

LCID has been the subject of a number of other research reports. Morgan Stanley set a $5.00 price target on shares of Lucid Group in a report on Wednesday, May 6th. Benchmark downgraded shares of Lucid Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. TD Cowen lowered their target price on shares of Lucid Group from $10.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Evercore set a $6.00 target price on shares of Lucid Group in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Lucid Group has a consensus rating of “Reduce” and a consensus target price of $9.56.

Get Our Latest Stock Analysis on LCID

Lucid Group Trading Up 3.0%

NASDAQ:LCID opened at $7.32 on Monday. Lucid Group has a 1 year low of $2.37 and a 1 year high of $33.10. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02. The stock has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $8.21. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -0.55 and a beta of 0.83.

Institutional Investors Weigh In On Lucid Group

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in Lucid Group by 1,574.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock valued at $28,000 after acquiring an additional 2,740 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock valued at $33,000 after purchasing an additional 5,000 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Lucid Group in the second quarter valued at about $41,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Lucid Group in the second quarter valued at approximately $59,000. Finally, Leonteq Securities AG purchased a new position in shares of Lucid Group during the 4th quarter worth approximately $67,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Key Lucid Group News

Here are the key news stories impacting Lucid Group this week:

About Lucid Group

(Get Free Report)

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.

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Analyst Recommendations for Lucid Group (NASDAQ:LCID)

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