10,100 Shares in Lucid Group, Inc. (NASDAQ:LCID) Purchased by Capital Performance Advisors LLP

Capital Performance Advisors LLP acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,100 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors have also added to or reduced their stakes in LCID. Arizona State Retirement System increased its stake in Lucid Group by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 248,101 shares of the company’s stock worth $1,387,000 after acquiring an additional 2,449 shares during the last quarter. M&T Bank Corp increased its position in shares of Lucid Group by 12.8% during the 3rd quarter. M&T Bank Corp now owns 26,770 shares of the company’s stock valued at $150,000 after purchasing an additional 3,046 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Lucid Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 58,547 shares of the company’s stock valued at $327,000 after purchasing an additional 3,055 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of Lucid Group by 127.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after purchasing an additional 3,700 shares during the last quarter. Finally, New York Life Investment Management LLC increased its position in shares of Lucid Group by 23.1% during the 3rd quarter. New York Life Investment Management LLC now owns 20,583 shares of the company’s stock valued at $115,000 after purchasing an additional 3,858 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup reiterated a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $6.00 to $4.00 in a research report on Thursday, February 22nd. Morgan Stanley restated an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, March 25th. Stifel Nicolaus reduced their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Finally, Bank of America reduced their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.34.

Lucid Group Trading Up 9.5 %

NASDAQ LCID traded up $0.26 on Monday, hitting $3.05. The company’s stock had a trading volume of 47,793,413 shares, compared to its average volume of 33,183,910. Lucid Group, Inc. has a 52-week low of $2.29 and a 52-week high of $8.37. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $2.77 and its 200 day simple moving average is $3.50. The firm has a market cap of $7.02 billion, a P/E ratio of -2.18 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last released its earnings results on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The firm had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The company’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) EPS. Research analysts predict that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.

About Lucid Group

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.