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 note released on Thursday,Benzinga reports. The firm currently has a $3.00 price objective on the stock.

A number of other brokerages also recently issued reports on LCID. Cowen began coverage on shares of Lucid Group in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a report on Friday, March 7th. Stifel Nicolaus dropped their price target on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Finally, Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.69.

Lucid Group Trading Down 1.7 %

Lucid Group stock opened at $2.28 on Thursday. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43. The firm’s 50 day moving average price is $2.56 and its 200-day moving average price is $2.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The stock has a market cap of $6.91 billion, a P/E ratio of -1.70 and a beta of 0.88.

Institutional Investors Weigh In On Lucid Group

Several hedge funds and other institutional investors have recently made changes to their positions in LCID. Charles Schwab Investment Management Inc. grew 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 valued at $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Lucid Group by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after buying an additional 6,374 shares during the period. FMR LLC grew its stake in shares of Lucid Group by 47.5% during the third quarter. FMR LLC now owns 149,987 shares of the company’s stock valued at $529,000 after buying an additional 48,304 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Lucid Group in the third quarter worth approximately $75,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Lucid Group by 43.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 117,764 shares of the company’s stock worth $416,000 after acquiring an additional 35,766 shares during the last quarter. Hedge funds and other 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.