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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They presently have a $3.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 29.31% from the stock’s current price.

Several other brokerages have also commented on LCID. Morgan Stanley raised Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective for the company in a report on Tuesday, March 18th. TD Cowen began coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a “hold” rating and a $2.30 price target for the company. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research report on Friday, March 7th. Cowen assumed coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a “hold” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and an average target price of $2.69.

Lucid Group Price Performance

NASDAQ:LCID opened at $2.32 on Friday. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of -1.73 and a beta of 0.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock has a fifty day moving average of $2.61 and a 200 day moving average of $2.75. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43.

Institutional Trading of Lucid Group

A number of hedge funds have recently modified their holdings of LCID. Public Investment Fund increased its stake in shares of Lucid Group by 28.8% in the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after acquiring an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lucid Group by 31.1% in the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after purchasing an additional 26,172,852 shares during the period. Two Sigma Investments LP increased 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 valued at $47,873,000 after purchasing an additional 15,493,320 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 valued at $49,950,000 after purchasing an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $34,123,000. 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.