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

Cantor Fitzgerald reiterated their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research report report published on Monday morning, Benzinga reports. They currently have a $4.00 target price on the stock.

Several other equities research analysts have also weighed in on LCID. Needham & Company LLC restated a hold rating on shares of Lucid Group in a research report on Wednesday, September 11th. Royal Bank of Canada restated a sector perform rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. Finally, Robert W. Baird reiterated a neutral rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $3.71.

Lucid Group Stock Up 3.5 %

Shares of Lucid Group stock opened at $3.54 on Monday. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. Lucid Group has a 12-month low of $2.29 and a 12-month high of $5.70. The company has a market cap of $8.17 billion, a P/E ratio of -2.79 and a beta of 1.05. The company’s fifty day simple moving average is $3.53 and its two-hundred day simple moving average is $3.05.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The company had revenue of $200.58 million during 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%. Lucid Group’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.40) earnings per share. Research analysts anticipate that Lucid Group will post -1.27 EPS for the current year.

Insider Activity

In related news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the transaction, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Lucid Group by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after acquiring an additional 9,175,312 shares during the last quarter. Norges Bank purchased a new stake in Lucid Group in the fourth quarter worth approximately $22,208,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Lucid Group by 42.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock worth $6,951,000 after purchasing an additional 732,463 shares during the period. Bank of New York Mellon Corp raised its stake in Lucid Group by 27.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock valued at $7,000,000 after buying an additional 581,082 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Lucid Group by 946.6% during the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after buying an additional 474,534 shares during the period. 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.