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

Cantor Fitzgerald reiterated their neutral rating on shares of Lucid Group (NASDAQ:LCIDFree Report) 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.

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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:LCIDGet Free Report) 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

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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.

Further Reading

Analyst Recommendations for Lucid Group (NASDAQ:LCID)

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