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

Cantor Fitzgerald restated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research note released on Friday,Benzinga reports. Cantor Fitzgerald currently has a $3.00 price objective on the stock.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Cowen started coverage on Lucid Group in a research note on Thursday, March 6th. They set a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Finally, Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.69.

Lucid Group Stock Down 4.1 %

LCID opened at $2.32 on Friday. 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 $2.76. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The company has a market capitalization of $7.03 billion, a P/E ratio of -1.73 and a beta of 0.97.

Institutional Investors Weigh In On Lucid Group

A number of hedge funds and other institutional investors have recently bought and sold shares of LCID. California State Teachers Retirement System raised its position in Lucid Group by 0.9% in the fourth quarter. California State Teachers Retirement System now owns 878,916 shares of the company’s stock valued at $2,654,000 after purchasing an additional 8,023 shares during the last quarter. 111 Capital bought a new position in Lucid Group in the 4th quarter valued at approximately $52,000. Public Employees Retirement System of Ohio raised its holdings in Lucid Group by 5.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock valued at $1,026,000 after buying an additional 17,230 shares during the last quarter. Alpine Global Management LLC grew its holdings in Lucid Group by 7.4% during the 4th quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock worth $203,000 after acquiring an additional 4,653 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Lucid Group by 23.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,612,631 shares of the company’s stock valued at $7,890,000 after acquiring an additional 504,171 shares during the period. 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.