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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They presently have a $3.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 34.53% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada dropped their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 19th. Benchmark started coverage on shares of Lucid Group in a research report on Wednesday, February 12th. They set a “buy” rating and a $5.00 price objective for the company. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday. Finally, Redburn Atlantic downgraded shares of 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 report on Monday. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.73.

Lucid Group Stock Down 1.3 %

NASDAQ LCID opened at $2.23 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a 50 day moving average of $2.97 and a 200-day moving average of $2.96. The company has a market cap of $6.72 billion, a price-to-earnings ratio of -1.66 and a beta of 0.93.

Institutional Trading of Lucid Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Public Investment Fund grew its stake in shares of Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after buying an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after buying an additional 26,172,852 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock worth $61,214,000 after buying an additional 4,844,782 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Lucid Group by 4,320.7% during the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock worth $47,873,000 after buying an additional 15,493,320 shares during the last quarter. 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.