Cantor Fitzgerald Reaffirms Underweight Rating for Lucid Group (NASDAQ:LCID)

Lucid Group (NASDAQ:LCID)‘s stock had its “underweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $4.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 45.45% from the company’s current price.

Several other equities research analysts have also recently issued reports on LCID. Stifel Nicolaus lowered their target price on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Finally, Citigroup reissued a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.24.

Lucid Group Trading Up 4.2 %

Shares of LCID opened at $2.75 on Monday. Lucid Group has a 52-week low of $2.29 and a 52-week high of $8.37. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average is $2.70 and its two-hundred day moving average is $3.03. The stock has a market cap of $6.34 billion, a PE ratio of -2.17 and a beta of 1.04.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LCID. GAMMA Investing LLC acquired a new position in Lucid Group in the fourth quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in Lucid Group in the fourth quarter valued at about $43,000. Tyche Wealth Partners LLC acquired a new position in Lucid Group in the fourth quarter valued at about $43,000. MGO Private Wealth LLC acquired a new position in Lucid Group in the fourth quarter valued at about $43,000. Finally, Meeder Advisory Services Inc. acquired a new position in Lucid Group in the first quarter valued at about $29,000. Institutional investors and hedge funds 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.