Cantor Fitzgerald Reiterates Neutral Rating for Lucid Group (NASDAQ:LCID)

Cantor Fitzgerald restated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $3.00 target price on the stock.

Several other equities analysts have also commented on LCID. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.00 to $1.00 in a research report on Wednesday. Benchmark began coverage on shares of Lucid Group in a research report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 target price for the company. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday. Finally, Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.50 to $1.13 in a research report on Monday. Three equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.73.

Lucid Group Trading Down 13.6 %

Shares of LCID stock opened at $2.26 on Wednesday. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The firm’s 50 day moving average price is $2.98 and its two-hundred day moving average price is $2.97. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -1.68 and a beta of 0.93.

Institutional Investors Weigh In On Lucid Group

Several institutional investors and hedge funds have recently made changes to their positions in LCID. Pine Valley Investments Ltd Liability Co lifted its position in shares of Lucid Group by 27.8% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after purchasing an additional 3,816 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in Lucid Group by 43.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company’s stock worth $43,000 after purchasing an additional 4,296 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Lucid Group by 14.0% during the fourth quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock worth $109,000 after acquiring an additional 4,431 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Lucid Group by 4.0% in the fourth quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock valued at $363,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Alpine Global Management LLC lifted its position in shares of Lucid Group by 7.4% in the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock worth $203,000 after purchasing an additional 4,653 shares in the last quarter. Institutional investors and hedge funds 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.