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

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lucid Group (NASDAQ:LCID - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. Cantor Fitzgerald currently has a $3.00 target price on the stock.

LCID has been the topic of several other reports. Cowen initiated coverage on shares of Lucid Group in a report on Thursday, March 6th. They issued a "hold" rating on the stock. TD Cowen began coverage on Lucid Group in a research note on Friday, March 7th. They set a "hold" rating and a $2.30 price objective on the stock. Stifel Nicolaus decreased their target price on Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target on the stock in a research report on Tuesday, March 18th. Finally, Bank of America cut Lucid Group from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $2.69.

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Lucid Group Trading Up 3.2 %

Shares of NASDAQ:LCID traded up $0.08 during mid-day trading on Friday, reaching $2.40. The stock had a trading volume of 54,147,829 shares, compared to its average volume of 55,654,774. The firm has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $2.74. Lucid Group has a twelve month low of $1.93 and a twelve month high of $4.43. The firm has a market cap of $7.26 billion, a PE ratio of -1.77 and a beta of 0.97. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Institutional Trading of Lucid Group

Institutional investors have recently made changes to their positions in the business. Point72 Italy S.r.l. acquired a new stake in Lucid Group in the 3rd quarter valued at $3,209,000. Main Management ETF Advisors LLC bought a new position in shares of Lucid Group in the 3rd quarter valued at about $863,000. Charles Schwab Investment Management Inc. increased its position in shares of Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock valued at $17,991,000 after acquiring an additional 2,335,452 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock worth $771,000 after acquiring an additional 249,500 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $301,000. 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.