HomeMarket News Cantor Fitzgerald Warns Investors about Lucid's Downgrade Cantor Fitzgerald Warns Investors about Lucid's...

Cantor Fitzgerald Warns Investors about Lucid’s Downgrade Cantor Fitzgerald Warns Investors about Lucid’s Downgrade

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LCID Stock - Cantor Fitzgerald Is Souring on Lucid (LCID) Stock

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Lucidย (NASDAQ:LCID) shares are slipping on Thursday after Cantor Fitzgerald analysts downgraded the electric vehicle (EV) companyโ€™s stock from โ€œneutralโ€ to โ€œunderweightโ€ rating. This move aligns with the consensus rating based on 10 opinions.

The downgrade for LCID stock also includes a price cut, plummeting from $6 per share to $4 per share. Despite this, the 8.1% upside is still lower than the consensus prediction of $5.65 per share for LCID.

What Prompted the Bearish Stance on LCID Stock?

Cantor Fitzgeraldโ€™s analysts expressed a too conservative stance in a note to clients obtained by Investing.com, citing disappointments in the FY24 production guidance, persistently high negative gross margins, lower-than-anticipated demand, and slower deliveries to Saudi Arabia than initially expected.

LCID stock is down 8.1% on Thursday morning, with over 1.4 million shares being traded, well below the daily average trading volume of about 40 million shares.

Ready for more of the latest stock market stories? Check out whatโ€™s happening with Bel Fuseย (NASDAQ:BELFB), Draganflyย (NASDAQ:DPRO), and BuzzFeedย (NASDAQ:BZFD) stock this morning.

More Thursday Stock Market News

On the date of publication, William Whiteย did not have (either directly or indirectly) any positions in the securities mentioned in this article.ย The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comย Publishing Guidelines.

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