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

Lucid Group (NASDAQ:LCIDGet Free Report)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $4.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 22.70% from the company’s current price.

LCID has been the subject of several other research reports. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.71.

Read Our Latest Research Report on LCID

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $3.26 on Monday. The company has a market capitalization of $7.52 billion, a PE ratio of -2.57 and a beta of 1.05. Lucid Group has a 12 month low of $2.29 and a 12 month high of $5.68. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $3.53 and its 200 day simple moving average is $3.06.

Lucid Group (NASDAQ:LCIDGet Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The firm had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. During the same period in the prior year, the business earned ($0.40) EPS. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, research analysts predict that Lucid Group will post -1.27 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

A number of institutional investors have recently bought and sold shares of LCID. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group during the second quarter valued at about $26,000. Accredited Investors Inc. purchased a new stake in Lucid Group in the second quarter worth $27,000. Frank Rimerman Advisors LLC boosted its holdings in shares of Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after acquiring an additional 9,250 shares during the period. Meeder Advisory Services Inc. bought a new position in shares of Lucid Group in the first quarter worth $29,000. Finally, Norden Group LLC bought a new position in shares of Lucid Group in the first quarter worth $32,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Lucid Group (NASDAQ:LCID)

Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.