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

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report report published on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $3.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Lucid Group’s FY2025 earnings at ($1.03) EPS.

A number of other brokerages have also commented on LCID. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.00 to $1.00 in a research report on Wednesday. Royal Bank of Canada dropped their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Benchmark started coverage on Lucid Group in a research note on Wednesday, February 12th. They set a “buy” rating and a $5.00 price target on the stock. Finally, R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lucid Group has an average rating of “Hold” and a consensus price target of $2.73.

Lucid Group Trading Down 0.4 %

LCID stock opened at $2.22 on Wednesday. Lucid Group has a 12 month low of $1.93 and a 12 month high of $4.43. The firm’s 50-day moving average is $2.96 and its 200 day moving average is $2.96. The company has a market capitalization of $6.69 billion, a PE ratio of -1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LCID. Public Investment Fund lifted its position in Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock valued at $5,348,084,000 after acquiring an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock valued at $333,163,000 after purchasing an additional 26,172,852 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lucid Group by 31.4% in the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock worth $61,214,000 after purchasing an additional 4,844,782 shares in the last quarter. Renaissance Technologies LLC grew its stake in Lucid Group by 342.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after buying an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock valued at $47,873,000 after buying an additional 15,493,320 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.