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 report report published on Tuesday,Benzinga reports. Cantor Fitzgerald currently has a $3.00 price target on the stock.

A number of other equities analysts have also commented on the company. Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Royal Bank of Canada lowered their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Cfra set a $2.00 price objective on Lucid Group in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.04.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.98 on Tuesday. The firm has a market cap of $8.97 billion, a P/E ratio of -2.22 and a beta of 0.94. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group has a 1-year low of $1.93 and a 1-year high of $4.43. The business’s 50 day moving average is $2.52 and its 200-day moving average is $3.03.

Insider Activity at Lucid Group

In other news, Director Public Investment Fund acquired 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the acquisition, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. The trade was a -102.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 61.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Italy S.r.l. acquired a new position in Lucid Group during the 3rd quarter worth about $3,209,000. Main Management ETF Advisors LLC acquired a new position in Lucid Group during the 3rd quarter worth about $863,000. Charles Schwab Investment Management Inc. lifted its holdings in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after buying an additional 2,335,452 shares during the period. CWM LLC lifted its holdings in Lucid Group by 24.6% during the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after buying an additional 6,771 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Lucid Group by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock worth $930,000 after buying an additional 6,374 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.

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.