Lucid Group’s (LCID) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a report released on Friday,Benzinga reports. Cantor Fitzgerald currently has a $3.00 price objective on the stock.

LCID has been the topic of a number of other research reports. 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 note on Thursday, February 27th. Bank of America cut 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 report on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Lucid Group in a research report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, TD Cowen began coverage on shares of Lucid Group in a research report on Friday, March 7th. They issued a “hold” rating and a $2.30 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Lucid Group has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Price Performance

NASDAQ LCID opened at $2.32 on Friday. 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 12-month low of $1.93 and a 12-month high of $4.43. The firm’s 50 day moving average is $2.61 and its 200-day moving average is $2.74. The company has a market capitalization of $7.03 billion, a PE ratio of -1.73 and a beta of 0.97.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Lucid Group by 27.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock valued at $62,000 after buying an additional 3,816 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Lucid Group by 43.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company’s stock valued at $43,000 after acquiring an additional 4,296 shares in the last quarter. Sei Investments Co. lifted its position in shares of Lucid Group by 14.0% during the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock valued at $109,000 after acquiring an additional 4,431 shares during the period. Voya Investment Management LLC grew its holdings in shares of Lucid Group by 4.0% during the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock worth $363,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Alpine Global Management LLC increased 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 during the period. 75.17% of the stock is owned by institutional investors.

Lucid Group Company 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.