LCID

Cantor Fitzgerald Downgrades Lucid Group (LCID)

Fintel reports that on February 22, 2024, Cantor Fitzgerald downgraded their outlook for Lucid Group (NasdaqGS:LCID) from Neutral to Underweight .

Analyst Price Forecast Suggests 31.86% Upside

As of January 19, 2024, the average one-year price target for Lucid Group is 4.88. The forecasts range from a low of 3.03 to a high of $7.35. The average price target represents an increase of 31.86% from its latest reported closing price of 3.70.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Lucid Group is 5,037MM, an increase of 746.17%. The projected annual non-GAAP EPS is -0.76.

What is the Fund Sentiment?

There are 802 funds or institutions reporting positions in Lucid Group. This is an increase of 14 owner(s) or 1.78% in the last quarter. Average portfolio weight of all funds dedicated to LCID is 0.09%, a decrease of 17.21%. Total shares owned by institutions increased in the last three months by 0.80% to 1,713,988K shares. LCID / Lucid Group, Inc. Put/Call Ratios The put/call ratio of LCID is 1.99, indicating a bearish outlook.

What are Other Shareholders Doing?

LCID / Lucid Group, Inc. Shares Held by Institutions

Public Investment Fund holds 1,374,700K shares representing 60.05% ownership of the company. No change in the last quarter.

Invesco Qqq Trust, Series 1 holds 38,855K shares representing 1.70% ownership of the company. In it's prior filing, the firm reported owning 24,568K shares, representing an increase of 36.77%. The firm increased its portfolio allocation in LCID by 31.10% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 24,852K shares representing 1.09% ownership of the company. In it's prior filing, the firm reported owning 24,821K shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in LCID by 15.69% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 18,072K shares representing 0.79% ownership of the company. In it's prior filing, the firm reported owning 18,444K shares, representing a decrease of 2.06%. The firm decreased its portfolio allocation in LCID by 15.84% over the last quarter.

Geode Capital Management holds 14,543K shares representing 0.64% ownership of the company. In it's prior filing, the firm reported owning 14,049K shares, representing an increase of 3.40%. The firm decreased its portfolio allocation in LCID by 31.54% over the last quarter.

Lucid Group Background Information
(This description is provided by the company.)

Lucid seeks to inspire the adoption of sustainable energy by creating the most captivating electric vehicles, centered around the human experience. The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design underpinned by race-proven technology. Featuring luxurious interior space in a mid-size exterior footprint, select models of Air are expected to be capable of a projected EPA estimated range of over 500 miles. Customer deliveries of Lucid Air are planned to begin this year.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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