Lucid Group (NASDAQ: LCID) continues to face turbulence as multiple analysts have issued downgrades and price target cuts, reflecting ongoing concerns about the electric vehicle (EV) maker’s financial and market performance.
Analyst Ratings: A Mixed Outlook for Lucid
Several research firms have adjusted their stance on Lucid Group, signaling caution among investors:
- Bank of America downgraded the stock from a “neutral” rating to an “underperform” rating, slashing its price target from $3.00 to $1.00 on February 26.
- Stifel Nicolaus lowered its price target from $3.50 to $3.00, maintaining a “hold” rating on February 27.
- R.F. Lafferty bucked the trend by upgrading Lucid from a “hold” rating to a “buy” rating, setting a $4.00 target price on November 11.
- Royal Bank of Canada decreased its target price from $3.00 to $2.00, rating it as “sector perform” on November 19.
- Redburn Atlantic issued a downgrade from “neutral” to “sell” and dropped its price target from $3.50 to $1.13 on February 24.
According to MarketBeat data, Lucid Group holds a consensus “hold” rating, with three analysts advising a “sell,” seven maintaining a “hold,” and two recommending a “buy.” The average price target currently stands at $2.69.
Lucid Group’s Stock Performance
Lucid Group’s stock opened at $2.15 on Friday, reflecting its recent struggles. The stock’s 50-day moving average stands at $2.85, while the 200-day moving average is $2.91. Key financial ratios include:
- Current Ratio: 3.71
- Quick Ratio: 3.26
- Debt-to-Equity Ratio: 0.77
- Market Cap: $6.48 billion
- PE Ratio: -1.60
- Beta: 0.97
The stock has traded between a 52-week low of $1.93 and a 52-week high of $4.43, showcasing significant volatility.
Institutional Investors Adjust Holdings
Institutional investors have been making notable adjustments to their positions in Lucid Group:
- Public Employees Retirement System of Ohio increased its stake by 5.3% in Q4, now holding 339,579 shares valued at $1.03 million.
- Alpine Global Management LLC grew its holdings by 7.4%, now holding 67,153 shares worth $203,000.
- UBS Asset Management Americas LLC boosted its position by 23.9%, now controlling 2.61 million shares valued at $7.89 million.
- Waverly Advisors LLC acquired a new position in Lucid, valued at $35,000.
- Worldquant Millennium Advisors LLC also took a new stake worth $5.39 million.
Institutional investors currently own 75.17% of Lucid’s stock, indicating continued institutional interest despite market uncertainty.
About Lucid Group
Lucid Group, Inc. is an American EV manufacturer known for its luxury electric sedans, powertrains, and proprietary battery technology. The company sells vehicles directly to consumers via its retail network and online platform, including Lucid Financial Services. Lucid aims to compete with industry giants like Tesla (NASDAQ: TSLA) through innovation and high-performance EV models.
As the company navigates market challenges and shifting investor sentiment, all eyes remain on its financial health, production capabilities, and strategic initiatives in the growing EV sector.
