Lucid Group (NASDAQ:LCID) Given Neutral Rating at Cantor Fitzgerald

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

A number of other brokerages have also weighed in on LCID. Cowen assumed coverage on shares of Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $3.50 to $1.13 in a report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target for the company in a research note on Tuesday, March 18th. Finally, TD Cowen initiated coverage on shares of Lucid Group in a research report on Friday, March 7th. They issued a “hold” rating and a $2.30 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Stock Performance

Shares of LCID stock 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. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43. The company’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $2.76. The company has a market capitalization of $7.03 billion, a P/E ratio of -1.73 and a beta of 0.97.

Hedge Funds Weigh In On Lucid Group

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