Cantor Fitzgerald Cuts Earnings Estimates for Lucid Group

Lucid Group, Inc. (NASDAQ:LCID - Free Report) - Investment analysts at Cantor Fitzgerald cut their FY2025 earnings per share (EPS) estimates for Lucid Group in a research note issued on Wednesday, February 26th. Cantor Fitzgerald analyst A. Sheppard now forecasts that the company will post earnings per share of ($1.03) for the year, down from their prior forecast of ($0.94). Cantor Fitzgerald has a "Neutral" rating and a $3.00 price target on the stock. The consensus estimate for Lucid Group's current full-year earnings is ($1.25) per share.

A number of other research analysts also recently issued reports on LCID. Bank of America downgraded Lucid Group from a "neutral" rating to an "underperform" rating and cut their price target for the company from $3.00 to $1.00 in a report on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price target on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a report on Tuesday, November 19th. Benchmark started coverage on shares of Lucid Group in a research note on Wednesday, February 12th. They set a "buy" rating and a $5.00 price objective for the company. Finally, Redburn Atlantic downgraded shares of Lucid Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2.73.

Lucid Group Stock Up 2.1 %

Shares of LCID traded up $0.05 during midday trading on Friday, reaching $2.17. 85,177,948 shares of the stock were exchanged, compared to its average volume of 87,176,383. The company has a market capitalization of $6.52 billion, a P/E ratio of -1.62 and a beta of 0.93. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group has a 52 week low of $1.93 and a 52 week high of $4.43. The company's 50 day moving average is $2.94 and its two-hundred day moving average is $2.95.

Hedge Funds Weigh In On Lucid Group

Several hedge funds have recently made changes to their positions in LCID. Creative Planning lifted its position in Lucid Group by 54.3% during the 3rd quarter. Creative Planning now owns 224,031 shares of the company's stock worth $791,000 after acquiring an additional 78,839 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Lucid Group by 67.3% during the third quarter. Ballentine Partners LLC now owns 33,707 shares of the company's stock worth $119,000 after purchasing an additional 13,554 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Lucid Group in the third quarter valued at approximately $192,000. Latko Wealth Management Ltd. purchased a new stake in Lucid Group in the third quarter valued at approximately $39,000. Finally, Crumly & Associates Inc. acquired a new position in Lucid Group in the 3rd quarter worth approximately $38,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Company Profile

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.