Cantor Fitzgerald Reiterates "Neutral" Rating for Lucid Group (NASDAQ:LCID)

Cantor Fitzgerald restated their neutral rating on shares of Lucid Group (NASDAQ:LCID - Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $3.00 target price on the stock. Cantor Fitzgerald also issued estimates for Lucid Group's FY2025 earnings at ($1.03) EPS.

A number of other equities research analysts also recently issued reports on the stock. Benchmark assumed coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a "buy" rating and a $5.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research note on Wednesday. Redburn Atlantic downgraded Lucid Group from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Bank of America cut shares of Lucid Group from a "neutral" rating to an "underperform" rating and cut their price target for the company from $3.00 to $1.00 in a research report on Wednesday. Finally, R. F. Lafferty upgraded Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price on the stock in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $2.73.

Lucid Group Stock Performance

Shares of NASDAQ LCID traded down $0.01 during midday trading on Wednesday, hitting $2.22. 135,864,308 shares of the company's stock were exchanged, compared to its average volume of 87,222,867. The firm has a market capitalization of $6.69 billion, a PE ratio of -1.66 and a beta of 0.93. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The company's 50 day moving average price is $2.96 and its 200 day moving average price is $2.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co raised its position in shares of Lucid Group by 27.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company's stock valued at $62,000 after purchasing an additional 3,816 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Lucid Group by 43.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company's stock valued at $43,000 after acquiring an additional 4,296 shares during the last quarter. Sei Investments Co. grew its position in Lucid Group by 14.0% during the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock worth $109,000 after purchasing an additional 4,431 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Lucid Group by 4.0% in the fourth quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock worth $363,000 after purchasing an additional 4,591 shares during the last quarter. Finally, Alpine Global Management LLC grew its holdings in Lucid Group by 7.4% during the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock worth $203,000 after acquiring an additional 4,653 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

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.