Cantor Fitzgerald Forecasts Lower Earnings for Lucid Group

Lucid Group, Inc. (NASDAQ:LCID - Free Report) - Stock analysts at Cantor Fitzgerald dropped their FY2025 earnings estimates for shares of Lucid Group in a note issued to investors on Wednesday, February 26th. Cantor Fitzgerald analyst A. Sheppard now anticipates that the company will post earnings per share of ($1.03) for the year, down from their previous forecast of ($0.94). Cantor Fitzgerald has a "Neutral" rating and a $3.00 price target on the stock. The consensus estimate for Lucid Group's current full-year earnings is ($1.25) per share.

A number of other analysts have also recently issued reports on LCID. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research note on Tuesday, November 19th. Bank of America lowered shares of Lucid Group from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. R. F. Lafferty upgraded shares of Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target for the company in a research report on Monday, November 11th. Finally, Benchmark started coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a "buy" rating and a $5.00 price target for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.73.

Lucid Group Stock Performance

Shares of LCID stock traded down $0.10 during mid-day trading on Friday, hitting $2.12. 91,218,332 shares of the stock were exchanged, compared to its average volume of 87,330,617. The stock's fifty day simple moving average is $2.94 and its two-hundred day simple moving average is $2.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group has a 12-month low of $1.93 and a 12-month high of $4.43. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -1.58 and a beta of 0.93.

Institutional Trading of Lucid Group

Hedge funds have recently made changes to their positions in the company. Public Investment Fund lifted its position in Lucid Group by 28.8% in the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after purchasing an additional 396,188,386 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Lucid Group by 31.1% in the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after buying an additional 26,172,852 shares during the period. Two Sigma Investments LP boosted its stake in shares of Lucid Group by 4,320.7% in the fourth 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 holdings in Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after acquiring an additional 12,803,987 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in Lucid Group in the fourth quarter worth $34,123,000. 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.