Lucid Group (NASDAQ:LCID) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lucid Group (NASDAQ:LCID - Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $3.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Lucid Group's FY2025 earnings at ($1.03) EPS.

Several other analysts have also commented on LCID. Robert W. Baird raised their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Cowen started coverage on Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating for the company. Benchmark reaffirmed a "buy" rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Morgan Stanley upgraded shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price on the stock in a report on Tuesday, March 18th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group has a consensus rating of "Hold" and a consensus target price of $2.68.

Lucid Group Trading Up 8.7 %

Shares of NASDAQ LCID traded up $0.20 during mid-day trading on Wednesday, hitting $2.51. The stock had a trading volume of 161,260,132 shares, compared to its average volume of 66,242,776. The firm has a market cap of $7.61 billion, a P/E ratio of -1.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The business has a 50 day moving average price of $2.36 and a two-hundred day moving average price of $2.55. Lucid Group has a 1 year low of $1.93 and a 1 year high of $4.43.

Lucid Group (NASDAQ:LCID - Get Free Report) 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 the consensus estimate of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. Lucid Group's revenue was up 36.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.27) EPS. On average, equities analysts anticipate that Lucid Group will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LCID. Public Investment Fund increased its holdings in Lucid Group by 28.8% in the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock worth $5,348,084,000 after buying an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Lucid Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 110,933,835 shares of the company's stock worth $268,460,000 after acquiring an additional 615,108 shares during the period. Geode Capital Management LLC lifted its position in Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock valued at $61,214,000 after purchasing an additional 4,844,782 shares during the period. Renaissance Technologies LLC boosted its holdings in Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after purchasing an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Lucid Group by 4,320.7% in the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after purchasing an additional 15,493,320 shares during the period. Hedge funds and other institutional investors own 75.17% of the company's stock.

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.