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

Cantor Fitzgerald reiterated their neutral rating on shares of Lucid Group (NASDAQ:LCID - Free Report) in a research note released on Thursday,Benzinga reports. They currently have a $3.00 target price on the stock.

Several other equities research analysts have also commented on LCID. Bank of America lowered shares of Lucid Group from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $3.50 to $1.13 in a report on Monday, February 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. TD Cowen started coverage on Lucid Group in a research report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target for the company. Finally, Cowen assumed coverage on Lucid Group in a research report on Thursday, March 6th. They set a "hold" rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $2.69.

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Lucid Group Stock Down 3.3 %

Shares of Lucid Group stock traded down $0.08 during trading on Thursday, hitting $2.32. 212,280,450 shares of the stock traded hands, compared to its average volume of 57,387,254. 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 stock's fifty day simple moving average is $2.57 and its 200 day simple moving average is $2.72. The firm has a market cap of $7.03 billion, a P/E ratio of -1.73 and a beta of 0.97. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43.

Institutional Trading of Lucid Group

A number of institutional investors have recently bought and sold shares of LCID. Newbridge Financial Services Group Inc. purchased a new position in shares of Lucid Group in the fourth quarter worth $28,000. Accredited Investors Inc. purchased a new position in Lucid Group in the 4th quarter worth $30,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group during the 4th quarter worth about $31,000. DRW Securities LLC purchased a new stake in Lucid Group during the 4th quarter valued at about $31,000. Finally, First National Corp MA ADV acquired a new position in shares of Lucid Group in the fourth quarter valued at about $32,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

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.