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

Cantor Fitzgerald restated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $4.00 price target on the stock.

Several other brokerages also recently commented on LCID. Robert W. Baird restated a neutral rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, July 8th. Royal Bank of Canada restated a sector perform rating and issued a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. Finally, Needham & Company LLC restated a hold rating on shares of Lucid Group in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $3.71.

Lucid Group Stock Performance

Shares of LCID stock opened at $3.34 on Monday. The stock has a market cap of $7.71 billion, a PE ratio of -2.63 and a beta of 1.05. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. Lucid Group has a 12 month low of $2.29 and a 12 month high of $5.58. The company’s fifty day moving average price is $3.53 and its 200-day moving average price is $3.07.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data 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 business had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. During the same period last year, the company posted ($0.40) earnings per share. The business’s revenue was up 32.9% compared to the same quarter last year. On average, equities analysts expect that Lucid Group will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 61.26% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently bought and sold shares of LCID. Norges Bank purchased a new position in Lucid Group in the 4th quarter valued at $22,208,000. Treasurer of the State of North Carolina lifted its holdings in shares of Lucid Group by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after purchasing an additional 3,230 shares in the last quarter. Bank of Nova Scotia acquired a new stake in Lucid Group during the 4th quarter valued at $74,000. KBC Group NV lifted its holdings in Lucid Group by 19.2% in the 4th quarter. KBC Group NV now owns 39,171 shares of the company’s stock valued at $165,000 after purchasing an additional 6,323 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in Lucid Group by 2.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 290,103 shares of the company’s stock worth $1,221,000 after acquiring an additional 5,627 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.