Lucid Group (NASDAQ:LCID) Price Target Raised to $20.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has increased Lucid Group's stock price target from $3.00 to $20.00, indicating a potential upside of 15.05% from the last closing price.
• Analyst ratings show a mix of opinions on Lucid Group, with two Buy ratings, eight Holds, and two Sell ratings, resulting in an average target price of $23.31.
• Lucid Group's latest earnings report showed a loss of ($2.80) per share, which was higher than analysts' expectations, contributing to ongoing investor concern.

Lucid Group (NASDAQ:LCID - Get Free Report) had its price objective boosted by Cantor Fitzgerald to $20.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 8.46% from the stock's current price.

Several other research firms have also recently weighed in on LCID. Stifel Nicolaus set a $2.10 target price on shares of Lucid Group in a research note on Friday, August 29th. Morgan Stanley lifted their target price on shares of Lucid Group to $30.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.31.

Lucid Group Price Performance

Shares of NASDAQ:LCID traded up $0.03 on Friday, reaching $18.44. 11,462,909 shares of the company traded hands, compared to its average volume of 11,853,207. Lucid Group has a fifty-two week low of $15.25 and a fifty-two week high of $40.80. The company's 50 day moving average is $22.99 and its 200-day moving average is $23.70. The stock has a market capitalization of $5.67 billion, a PE ratio of -1.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.58 and a quick ratio of 2.11.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.20) by ($0.60). Lucid Group had a negative return on equity of 79.40% and a negative net margin of 259.57%.The company had revenue of $259.43 million during the quarter, compared to analysts' expectations of $288.10 million. During the same quarter in the previous year, the company earned ($2.90) EPS. The firm's quarterly revenue was up 29.3% compared to the same quarter last year. As a group, analysts anticipate that Lucid Group will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LCID. Sterling Investment Counsel LLC acquired a new position in Lucid Group in the 1st quarter valued at $25,000. HB Wealth Management LLC acquired a new position in Lucid Group in the 1st quarter valued at $25,000. Cigna Investments Inc. New acquired a new position in Lucid Group in the 2nd quarter valued at $25,000. Tyche Wealth Partners LLC acquired a new position in shares of Lucid Group during the 2nd quarter worth approximately $26,000. Finally, Grimes & Company Inc. acquired a new position in shares of Lucid Group during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds 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.