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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reiterated by research analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $3.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 34.53% from the company’s previous close.

Several other research firms also recently issued reports on LCID. Benchmark began coverage on Lucid Group in a research note on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price target on the stock. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.00 to $1.00 in a research note on Wednesday. Finally, Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.50 to $1.13 in a research note on Monday. Three investment 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. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and an average price target of $2.73.

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $2.23 on Wednesday. The company has a market capitalization of $6.72 billion, a PE ratio of -1.66 and a beta of 0.93. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. 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 $2.97 and its 200 day simple moving average is $2.96.

Hedge Funds Weigh In On Lucid Group

Hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group in the 4th quarter valued at about $28,000. Accredited Investors Inc. bought a new position in Lucid Group during the fourth quarter worth about $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group during the fourth quarter worth about $31,000. DRW Securities LLC bought a new position in Lucid Group during the fourth quarter worth about $31,000. Finally, First National Corp MA ADV bought a new position in Lucid Group during the fourth quarter worth about $32,000. Institutional investors 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.