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

Cantor Fitzgerald reissued their neutral rating on shares of Lucid Group (NASDAQ:LCID) in a research note published on Wednesday,Benzinga reports. The firm currently has a $3.00 price target on the stock. Cantor Fitzgerald also issued estimates for Lucid Group’s FY2025 earnings at ($1.03) EPS.

LCID has been the subject of a number of other research reports. Redburn Atlantic cut Lucid Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Stifel Nicolaus reduced their target price on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Lucid Group in a report on Friday, March 7th. TD Cowen started coverage on shares of Lucid Group in a research report on Friday, March 7th. They set a “hold” rating and a $2.30 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.68.

Lucid Group Trading Up 8.7 %

Lucid Group stock opened at $2.51 on Wednesday. The business has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $2.55. Lucid Group has a 52-week low of $1.93 and a 52-week high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The company has a market cap of $7.61 billion, a P/E ratio of -1.87 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.27) earnings per share. Analysts predict that Lucid Group will post -1.25 EPS for the current year.

Institutional Trading of Lucid Group

Several hedge funds have recently modified their holdings of the company. Public Investment Fund increased its position in Lucid Group by 28.8% in the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after purchasing an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Lucid Group by 31.1% in the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after buying an additional 26,172,852 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock valued at $47,873,000 after buying an additional 15,493,320 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock valued at $49,950,000 after acquiring an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Lucid Group in the fourth quarter worth about $34,123,000. 75.17% of the stock is owned by hedge funds and other 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.