Lucid Group’s (LCID) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $3.00 price objective on the stock.

A number of other research firms have also recently commented on LCID. Bank of America cut shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $3.00 to $1.00 in a research note on Wednesday. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday. Benchmark initiated coverage on Lucid Group in a research note on Wednesday, February 12th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Royal Bank of Canada cut their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.73.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.26 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The firm has a fifty day moving average of $2.98 and a 200 day moving average of $2.97. The firm has a market cap of $6.79 billion, a PE ratio of -1.68 and a beta of 0.93. Lucid Group has a one year low of $1.93 and a one year high of $4.43.

Hedge Funds Weigh In On Lucid Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of Lucid Group by 5.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 339,579 shares of the company’s stock worth $1,026,000 after buying an additional 17,230 shares in the last quarter. Alpine Global Management LLC lifted its holdings in Lucid Group by 7.4% in the 4th 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Lucid Group by 23.9% in 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 valued at $7,890,000 after acquiring an additional 504,171 shares during the last quarter. Waverly Advisors LLC purchased a new position in Lucid Group during the fourth quarter worth about $35,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in Lucid Group in the 4th quarter worth about $5,390,000. 75.17% of the stock is 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.