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

Cantor Fitzgerald reissued their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report report published on Friday morning,Benzinga reports. Cantor Fitzgerald currently has a $3.00 target price on the stock.

Several other research analysts also recently commented on the company. Stifel Nicolaus lowered their target price 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. Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research report on Friday, March 7th. Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their target price for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Cowen initiated coverage on Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.69.

Lucid Group Price Performance

Lucid Group 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 stock has a market capitalization of $7.03 billion, a P/E ratio of -1.73 and a beta of 0.97. The stock has a fifty day moving average of $2.61 and a 200-day moving average of $2.74.

Institutional Investors Weigh In On Lucid Group

Several large investors have recently modified their holdings of LCID. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group in the fourth quarter valued at $28,000. Accredited Investors Inc. bought a new position in shares of Lucid Group during the 4th quarter worth about $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $31,000. DRW Securities LLC acquired a new position in Lucid Group during the 4th quarter worth approximately $31,000. Finally, First National Corp MA ADV acquired a new position in Lucid Group during the 4th quarter worth approximately $32,000. 75.17% of the stock is currently 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.