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

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

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday. Benchmark began coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They issued a “buy” rating and a $5.00 target price for the company. Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.00 to $1.00 in a research report on Wednesday. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $3.50 to $1.13 in a report on Monday. Finally, Royal Bank of Canada dropped their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.73.

Lucid Group Stock Performance

Shares of LCID stock opened at $2.61 on Wednesday. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43. The business’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $2.97. 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 company has a market cap of $7.86 billion, a PE ratio of -1.95 and a beta of 0.93.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in Lucid Group by 5.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock valued at $1,026,000 after acquiring an additional 17,230 shares during the last quarter. Alpine Global Management LLC lifted its position in Lucid Group by 7.4% during the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock worth $203,000 after buying an additional 4,653 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Lucid Group by 23.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,612,631 shares of the company’s stock valued at $7,890,000 after buying an additional 504,171 shares in the last quarter. Waverly Advisors LLC acquired a new stake in shares of Lucid Group in the 4th quarter worth $35,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Lucid Group during the 4th quarter worth $5,390,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.