Lucid Group (NASDAQ:LCID) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $3.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a research report on Tuesday, March 18th. TD Cowen assumed coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 price objective for the company. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Finally, Stifel Nicolaus dropped their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Lucid Group has a consensus rating of “Hold” and a consensus price target of $2.69.

Lucid Group Price Performance

LCID opened at $2.32 on Thursday. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $2.57 and its 200-day simple moving average is $2.72. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of -1.73 and a beta of 0.97. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43.

Institutional Investors Weigh In On Lucid Group

Large investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new position in Lucid Group in the 4th quarter worth $28,000. Accredited Investors Inc. purchased a new position in shares of Lucid Group in the fourth quarter worth about $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group during the fourth quarter worth about $31,000. DRW Securities LLC purchased a new stake in Lucid Group in the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new position in Lucid Group in the 4th quarter worth approximately $32,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.