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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued on Friday,Benzinga reports. They presently have a $3.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 30.15% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Cowen assumed coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a “hold” rating for the company. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Bank of America cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average price target of $2.69.

Lucid Group Stock Down 4.8 %

LCID stock traded down $0.12 during mid-day trading on Friday, reaching $2.31. The company had a trading volume of 6,396,508 shares, compared to its average volume of 54,521,969. The firm has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $2.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -1.71 and a beta of 0.97. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43.

Institutional Investors Weigh In On Lucid Group

A number of large investors have recently added to or reduced their stakes in LCID. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group in the 4th quarter valued at $28,000. Accredited Investors Inc. purchased a new stake in shares of Lucid Group in the fourth quarter valued at $30,000. Proficio Capital Partners LLC acquired a new position in Lucid Group in the fourth quarter valued at $31,000. DRW Securities LLC purchased a new position in Lucid Group during the fourth quarter worth about $31,000. Finally, First National Corp MA ADV acquired a new stake in Lucid Group in the 4th quarter worth about $32,000. 75.17% of the stock is 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.