Foster Group Inc. Takes $33,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Foster Group Inc. purchased a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $33,000.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Italy S.r.l. acquired a new stake in shares of Lucid Group in the third quarter valued at about $3,209,000. Main Management ETF Advisors LLC acquired a new stake in Lucid Group in the third quarter valued at approximately $863,000. Charles Schwab Investment Management Inc. raised its stake in shares of Lucid Group by 84.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the period. CWM LLC lifted its position in shares of Lucid Group by 24.6% during the third quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after purchasing an additional 6,771 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Lucid Group by 4,301.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock valued at $771,000 after purchasing an additional 249,500 shares during the period. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Performance

LCID stock opened at $2.67 on Thursday. The firm has a market cap of $8.04 billion, a P/E ratio of -1.99 and a beta of 0.94. The stock’s 50 day simple moving average is $2.73 and its 200 day simple moving average 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, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $200.04 million during the quarter, compared to the consensus estimate of $199.50 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.04.

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.