Lucid Group (NASDAQ:LCID) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research note published on Monday, Benzinga reports. They currently have a $4.00 price target on the stock.

A number of other equities analysts have also weighed in on LCID. Robert W. Baird reiterated a neutral rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, July 8th. Needham & Company LLC reiterated a hold rating on shares of Lucid Group in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $3.00 price target on shares of Lucid Group in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $3.71.

Lucid Group Price Performance

Shares of LCID opened at $3.42 on Monday. 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 has a fifty-two week low of $2.29 and a fifty-two week high of $5.70. The firm has a 50-day simple moving average of $3.53 and a 200-day simple moving average of $3.04. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -2.69 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The company 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%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) earnings per share. On average, equities research analysts anticipate that Lucid Group will post -1.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 61.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lucid Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Lucid Group during the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Lucid Group during the 2nd quarter worth approximately $63,000. Truist Financial Corp lifted its stake in Lucid Group by 40.2% in the 2nd quarter. Truist Financial Corp now owns 37,760 shares of the company’s stock valued at $99,000 after buying an additional 10,828 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Lucid Group by 17.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,431 shares of the company’s stock valued at $100,000 after buying an additional 5,702 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Lucid Group during the 2nd quarter valued at $243,000. 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.