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

Lucid Group (NASDAQ:LCID)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $3.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 31.58% from the stock’s current price.

Several other research analysts have also weighed in on the company. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.00 to $1.00 in a report on Wednesday, February 26th. Cowen began coverage on Lucid Group in a report on Thursday, March 6th. They set a “hold” rating on the stock. Stifel Nicolaus dropped their target price on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their price target for the company from $3.50 to $1.13 in a report on Monday, February 24th. Finally, Morgan Stanley upgraded shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective on the stock in a report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and a consensus target price of $2.69.

Lucid Group Stock Down 1.7 %

Shares of NASDAQ LCID 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 stock has a market cap of $6.91 billion, a P/E ratio of -1.70 and a beta of 0.97. The firm has a 50 day moving average price of $2.56 and a 200 day moving average price of $2.71.

Institutional Inflows and Outflows

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

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.