Lucid Group’s (LCID) Neutral Rating Reiterated at Cantor Fitzgerald

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $3.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 0.67% from the company’s current price.

Other research analysts also recently issued reports about the company. Cfra set a $2.00 price objective on Lucid Group in a report on Thursday, October 17th. Royal Bank of Canada decreased 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 note on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, November 11th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average target price of $3.04.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.98 on Tuesday. The company has a fifty day moving average price of $2.51 and a 200 day moving average price of $3.03. The firm has a market cap of $8.97 billion, a PE ratio of -2.22 and a beta of 0.94. 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.

Insider Activity

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Lucid Group by 6.0% in the second quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock valued at $172,000 after purchasing an additional 3,715 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings 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 worth $62,000 after buying an additional 3,816 shares during the period. Greenleaf Trust grew its stake in Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after buying an additional 4,604 shares during the last quarter. GAMMA Investing LLC raised its holdings in Lucid Group by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after acquiring an additional 5,031 shares during the period. Finally, Amalgamated Bank lifted its position in Lucid Group by 12.5% during the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after acquiring an additional 5,337 shares during the last quarter. 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.