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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $3.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 14.94% from the stock’s current price.

Several other analysts have also issued reports on the stock. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $3.50 to $1.13 in a report on Monday. Royal Bank of Canada reduced their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Benchmark assumed coverage on shares of Lucid Group in a report on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday. Finally, R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.73.

Lucid Group Price Performance

LCID stock opened at $2.61 on Wednesday. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of -1.95 and a beta of 0.93. The business has a fifty day moving average of $2.99 and a two-hundred day moving average of $2.97.

Institutional Inflows and Outflows

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