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

Key Points

• Cantor Fitzgerald reaffirmed a "neutral" rating on Lucid with a $14 price target, implying roughly a 110% upside from the current share price.
• Analyst coverage is mixed—2 Buys, 6 Holds and 3 Sells—leaving a MarketBeat consensus rating of Reduce and a consensus price target of $12.25.
• Shares recently traded at about $6.68 (market cap ~$2.19B; 52‑week range $5.62–$33.70), while institutional investors own ~75% of the stock and Goldman Sachs more than doubled its position by adding roughly 2.87 million shares.

Lucid Group (NASDAQ:LCID - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Monday,Benzinga reports. They presently have a $14.00 price target on the stock. Cantor Fitzgerald's price objective points to a potential upside of 109.74% from the stock's current price.

LCID has been the subject of a number of other reports. Royal Bank Of Canada decreased their price objective on shares of Lucid Group from $10.00 to $8.00 and set a "sector perform" rating for the company in a research report on Monday, April 13th. Benchmark reissued a "buy" rating on shares of Lucid Group in a research report on Thursday, February 19th. Weiss Ratings reissued a "sell (e+)" rating on shares of Lucid Group in a research report on Friday, March 27th. Bank of America started coverage on shares of Lucid Group in a research report on Wednesday, March 4th. They issued an "underperform" rating and a $10.00 price objective for the company. Finally, Citigroup started coverage on shares of Lucid Group in a research report on Wednesday, March 18th. They issued a "buy" rating and a $17.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Lucid Group has an average rating of "Reduce" and a consensus price target of $12.25.

Lucid Group Stock Up 2.1%

NASDAQ LCID traded up $0.14 during trading hours on Monday, hitting $6.68. The company had a trading volume of 2,550,905 shares, compared to its average volume of 10,481,680. Lucid Group has a fifty-two week low of $5.62 and a fifty-two week high of $33.70. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -0.55 and a beta of 0.88. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.25 and a quick ratio of 0.83. The firm's 50 day moving average is $9.06 and its 200 day moving average is $11.67.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently modified their holdings of LCID. Royal Bank of Canada lifted its position in shares of Lucid Group by 9.5% during the first quarter. Royal Bank of Canada now owns 110,716 shares of the company's stock worth $267,000 after purchasing an additional 9,578 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Lucid Group by 89.9% during the first quarter. AQR Capital Management LLC now owns 537,801 shares of the company's stock worth $1,226,000 after purchasing an additional 254,551 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Lucid Group by 103.2% during the first quarter. NewEdge Advisors LLC now owns 37,987 shares of the company's stock worth $92,000 after purchasing an additional 19,294 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Lucid Group by 112.0% during the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company's stock worth $13,166,000 after purchasing an additional 2,874,603 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Lucid Group by 11.3% during the first quarter. Empowered Funds LLC now owns 110,844 shares of the company's stock worth $268,000 after purchasing an additional 11,252 shares during the last quarter. Institutional investors own 75.17% of the company's stock.

About Lucid Group

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.

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