Nisa Investment Advisors LLC increased its holdings in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 4,301.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,300 shares of the company's stock after acquiring an additional 249,500 shares during the quarter. Nisa Investment Advisors LLC's holdings in Lucid Group were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of LCID. Sanctuary Advisors LLC bought a new position in shares of Lucid Group during the second quarter valued at $26,000. Wedge Capital Management L L P NC bought a new position in Lucid Group during the 4th quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in shares of Lucid Group by 73.7% during the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock valued at $36,000 after acquiring an additional 5,031 shares during the last quarter. Crumly & Associates Inc. purchased a new stake in shares of Lucid Group during the 3rd quarter valued at about $38,000. Finally, Latko Wealth Management Ltd. bought a new stake in shares of Lucid Group in the third quarter worth approximately $39,000. 75.17% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Cfra set a $2.00 target price on shares of Lucid Group in a report on Thursday, October 17th. Robert W. Baird reissued a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $3.04.
Check Out Our Latest Analysis on LCID
Lucid Group Trading Down 3.6 %
Shares of LCID stock traded down $0.10 during trading hours on Wednesday, reaching $2.67. 61,701,852 shares of the stock were exchanged, compared to its average volume of 83,985,406. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of -1.99 and a beta of 0.94. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The company's 50-day moving average price is $2.71 and its 200-day moving average price is $3.03. 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 (NASDAQ:LCID - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.09). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The business had revenue of $200.04 million for the quarter, compared to the consensus estimate of $199.50 million. During the same period in the prior year, the company posted ($0.28) EPS. As a group, equities analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current year.
About Lucid Group
(
Free Report)
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.
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