Lucid Group (NASDAQ:LCID) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research note released on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $3.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Lucid Group’s FY2025 earnings at ($1.03) EPS.

Other research analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Benchmark started 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. Bank of America cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.00 to $1.00 in a report on Wednesday. Finally, R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.73.

Lucid Group Price Performance

NASDAQ LCID opened at $2.22 on Wednesday. The company has a market cap of $6.69 billion, a price-to-earnings ratio of -1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The stock’s fifty day moving average price is $2.96 and its 200 day moving average price is $2.96. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors have recently modified their holdings of the business. Public Investment Fund boosted its position in Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after purchasing an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after buying an additional 26,172,852 shares during the period. Two Sigma Investments LP lifted its position in shares of Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock valued at $47,873,000 after buying an additional 15,493,320 shares in the last quarter. Renaissance Technologies LLC grew its stake in Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock valued at $49,950,000 after acquiring an additional 12,803,987 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in Lucid Group in the 4th quarter valued at $34,123,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.