Lucid Group (NASDAQ:LCID) Given “Underweight” Rating at Cantor Fitzgerald

Lucid Group (NASDAQ:LCID)‘s stock had its “underweight” rating reissued by investment analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $4.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 0.76% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, July 8th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Citigroup restated a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Finally, Stifel Nicolaus lowered their target price on Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.14.

Lucid Group Stock Up 10.0 %

NASDAQ:LCID opened at $3.97 on Monday. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of -3.13 and a beta of 1.04. Lucid Group has a 1-year low of $2.29 and a 1-year high of $7.75. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $2.85 and its 200 day moving average price is $2.96.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $172.74 million for the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.43) earnings per share. On average, sell-side analysts forecast that Lucid Group will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Lucid Group

Several large investors have recently made changes to their positions in LCID. Treasurer of the State of North Carolina boosted its stake in Lucid Group by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after purchasing an additional 3,230 shares during the period. Heritage Wealth Advisors boosted its stake in Lucid Group by 53.3% during the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after purchasing an additional 4,000 shares during the period. Apollon Wealth Management LLC boosted its stake in Lucid Group by 24.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock valued at $89,000 after purchasing an additional 4,170 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Lucid Group by 5.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 82,922 shares of the company’s stock valued at $236,000 after purchasing an additional 4,350 shares during the period. Finally, Capital Square LLC boosted its stake in Lucid Group by 34.7% during the 4th quarter. Capital Square LLC now owns 18,615 shares of the company’s stock valued at $78,000 after purchasing an additional 4,800 shares during the period. Institutional investors own 75.17% of the company’s stock.

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.