Cantor Fitzgerald Reiterates Neutral Rating for Lucid Group (NASDAQ:LCID)

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $4.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 22.70% from the company’s current price.

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

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $3.26 on Monday. The company has a market capitalization of $7.52 billion, a PE ratio of -2.57 and a beta of 1.05. Lucid Group has a 12 month low of $2.29 and a 12 month high of $5.68. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $3.53 and its 200 day simple moving average is $3.06.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The firm had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. During the same period in the prior year, the business earned ($0.40) EPS. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, research analysts predict that Lucid Group will post -1.27 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Lucid Group

A number of institutional investors have recently bought and sold shares of LCID. Sanctuary Advisors LLC acquired a new position in shares of Lucid Group during the second quarter valued at about $26,000. Accredited Investors Inc. purchased a new stake in Lucid Group in the second quarter worth $27,000. Frank Rimerman Advisors LLC boosted its holdings in shares of Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after acquiring an additional 9,250 shares during the period. Meeder Advisory Services Inc. bought a new position in shares of Lucid Group in the first quarter worth $29,000. Finally, Norden Group LLC bought a new position in shares of Lucid Group in the first quarter worth $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.