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

Cantor Fitzgerald reiterated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $4.00 target price on the stock.

A number of other brokerages also recently commented on LCID. 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. Royal Bank of Canada reissued a sector perform rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Friday, August 16th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Lucid Group in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, Lucid Group has a consensus rating of Hold and a consensus target price of $3.71.

Lucid Group Price Performance

Shares of LCID stock opened at $3.98 on Monday. The stock has a 50 day moving average price of $3.49 and a 200 day moving average price of $3.01. The firm has a market capitalization of $9.18 billion, a P/E ratio of -3.13 and a beta of 1.05. 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 has a 52-week low of $2.29 and a 52-week high of $6.12.

Lucid Group (NASDAQ:LCID) last released its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $200.58 million for the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) earnings per share. As a group, sell-side analysts predict that Lucid Group will post -1.22 earnings per share for the current year.

Insider Transactions at Lucid Group

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the transaction, the senior vice president now owns 2,028,268 shares in the company, valued at $6,368,761.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 61.26% of the company’s stock.

Institutional Trading of Lucid Group

A number of institutional investors have recently modified their holdings of LCID. Treasurer of the State of North Carolina lifted its position in Lucid Group by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after acquiring an additional 3,230 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in shares of Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after purchasing an additional 3,549 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Lucid Group by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock worth $172,000 after purchasing an additional 3,715 shares in the last quarter. Heritage Wealth Advisors increased its position 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 buying an additional 4,000 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Lucid Group by 24.6% in the fourth quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock valued at $89,000 after buying an additional 4,170 shares during the last quarter. 75.17% of the stock is currently owned by 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.