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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Thursday,Benzinga reports. They currently have a $3.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 31.58% from the company’s previous close.

A number of other equities research analysts also recently weighed in on LCID. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.50 to $1.13 in a research report on Monday, February 24th. TD Cowen began coverage on Lucid Group in a report on Friday, March 7th. They set a “hold” rating and a $2.30 target price on the stock. Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Cowen assumed coverage on shares of Lucid Group in a research 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 research report on Wednesday, February 26th. Two investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.69.

Lucid Group Trading Down 1.7 %

LCID stock opened at $2.28 on Thursday. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43. 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 company’s 50-day simple moving average is $2.56 and its 200 day simple moving average is $2.71. The company has a market capitalization of $6.91 billion, a PE ratio of -1.70 and a beta of 0.97.

Institutional Investors Weigh In On Lucid Group

Institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group during the fourth quarter worth $28,000. Accredited Investors Inc. acquired a new position in Lucid Group during the 4th quarter worth about $30,000. Proficio Capital Partners LLC bought a new stake in shares of Lucid Group in the 4th quarter valued at about $31,000. DRW Securities LLC acquired a new stake in shares of Lucid Group in the fourth quarter valued at about $31,000. Finally, First National Corp MA ADV bought a new position in shares of Lucid Group during the fourth quarter worth about $32,000. 75.17% of the stock is owned by institutional investors.

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.