13,489 Shares in Lucid Group, Inc. (NASDAQ:LCID) Acquired by Cantor Fitzgerald L. P.

Cantor Fitzgerald L. P. acquired a new stake in Lucid Group, Inc. (NASDAQ:LCID) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,489 shares of the company’s stock, valued at approximately $41,000.

A number of other institutional investors have also recently made changes to their positions in LCID. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $28,000. Accredited Investors Inc. purchased a new position in Lucid Group during the 4th quarter valued at $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group in the 4th quarter worth $31,000. DRW Securities LLC purchased a new stake in shares of Lucid Group in the 4th quarter worth about $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LCID. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a research report on Tuesday, March 18th. Cowen initiated coverage on Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating for the company. Finally, Robert W. Baird boosted their target price on shares of Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lucid Group has an average rating of “Hold” and a consensus price target of $2.68.

Lucid Group Price Performance

LCID opened at $2.36 on Tuesday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The stock has a 50-day moving average price of $2.35 and a 200-day moving average price of $2.55. The firm has a market cap of $7.15 billion, a PE ratio of -1.76 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.

Lucid Group 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.