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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $4.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 13.64% from the stock’s current price.

LCID has been the subject of several other research reports. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, July 8th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.71.

Lucid Group Trading Up 0.9 %

LCID traded up $0.03 on Monday, hitting $3.52. The company had a trading volume of 11,679,039 shares, compared to its average volume of 32,853,074. The business’s fifty day simple moving average is $3.55 and its 200 day simple moving average is $3.03. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. Lucid Group has a 12-month low of $2.29 and a 12-month high of $5.70. The company has a market cap of $8.12 billion, a PE ratio of -2.77 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The company had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $190.30 million. During the same quarter last year, the firm posted ($0.40) EPS. Lucid Group’s revenue for the quarter was up 32.9% compared to the same quarter last year. Equities research analysts expect that Lucid Group will post -1.22 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now owns 2,028,268 shares in the company, valued at $6,368,761.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 61.26% of the company’s stock.

Hedge Funds Weigh In On Lucid Group

A number of hedge funds and other institutional investors have recently modified their holdings of LCID. Sanctuary Advisors LLC purchased a new stake in Lucid Group during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Lucid Group during the 2nd quarter worth $63,000. Truist Financial Corp boosted its position in Lucid Group by 40.2% during the second quarter. Truist Financial Corp now owns 37,760 shares of the company’s stock valued at $99,000 after purchasing an additional 10,828 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Lucid Group by 17.4% in the second quarter. EP Wealth Advisors LLC now owns 38,431 shares of the company’s stock valued at $100,000 after purchasing an additional 5,702 shares during the last quarter. Finally, Algert Global LLC bought a new position in Lucid Group in the second quarter worth about $243,000. 75.17% of the stock is currently owned by 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.