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

Cantor Fitzgerald restated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $4.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird restated a neutral rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, July 8th. Royal Bank of Canada reaffirmed a sector perform rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Finally, Needham & Company LLC reissued a hold rating on shares of Lucid Group in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $3.71.

Lucid Group Stock Performance

NASDAQ:LCID opened at $3.39 on Monday. The company has a market cap of $7.82 billion, a price-to-earnings ratio of -2.67 and a beta of 1.04. The stock has a fifty day moving average price of $3.53 and a 200-day moving average price of $3.07. Lucid Group has a fifty-two week low of $2.29 and a fifty-two week high of $5.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The business had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. Lucid Group’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. As a group, equities analysts anticipate that Lucid Group will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 61.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lucid Group

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in Lucid Group in the fourth quarter worth about $22,208,000. Treasurer of the State of North Carolina grew its position in Lucid Group by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after buying an additional 3,230 shares during the period. Bank of Nova Scotia purchased a new stake in Lucid Group during the fourth quarter valued at approximately $74,000. KBC Group NV raised its position in Lucid Group by 19.2% in the fourth quarter. KBC Group NV now owns 39,171 shares of the company’s stock worth $165,000 after acquiring an additional 6,323 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Lucid Group by 2.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 290,103 shares of the company’s stock worth $1,221,000 after acquiring an additional 5,627 shares during the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

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.