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

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

A number of other analysts also recently issued reports on LCID. Royal Bank of Canada restated a sector perform rating and set a $3.00 price objective on shares of Lucid Group in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a hold rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Robert W. Baird reissued a neutral rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Lucid Group presently has an average rating of Hold and an average price target of $3.71.

Lucid Group Trading Up 2.1 %

NASDAQ:LCID opened at $3.40 on Tuesday. Lucid Group has a 52 week low of $2.29 and a 52 week high of $5.38. The firm has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $3.09. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of -2.68 and a beta of 1.04. 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 issued 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). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business had revenue of $200.58 million for the quarter, compared to the consensus estimate of $190.30 million. During the same quarter last year, the business posted ($0.40) earnings per share. The business’s revenue was up 32.9% compared to the same quarter last year. On average, equities analysts expect that Lucid Group will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning grew its position in shares of Lucid Group by 54.3% during the 3rd quarter. Creative Planning now owns 224,031 shares of the company’s stock valued at $791,000 after purchasing an additional 78,839 shares in the last quarter. Wedmont Private Capital grew its position in Lucid Group by 128.2% during the third quarter. Wedmont Private Capital now owns 64,013 shares of the company’s stock worth $219,000 after buying an additional 35,962 shares in the last quarter. CWM LLC boosted its position in shares of Lucid Group by 24.6% during the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after acquiring an additional 6,771 shares during the last quarter. Clean Yield Group purchased a new position in shares of Lucid Group during the third quarter worth about $43,000. Finally, Diversified Trust Co purchased a new position in shares of Lucid Group during the third quarter worth about $48,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

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.