Diversified Trust Co Makes New Investment in Lucid Group, Inc. (NASDAQ:LCID)

Diversified Trust Co acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,627 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors have also made changes to their positions in the stock. Royal London Asset Management Ltd. grew its holdings in Lucid Group by 2.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 290,103 shares of the company’s stock valued at $1,221,000 after purchasing an additional 5,627 shares during the last quarter. Vanguard Group Inc. grew its stake in Lucid Group by 12.4% in the 4th quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after buying an additional 9,175,312 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Lucid Group by 24.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company’s stock worth $7,184,000 after acquiring an additional 334,923 shares during the period. HighPoint Advisor Group LLC acquired a new position in Lucid Group during the 4th quarter worth $46,000. Finally, Wedmont Private Capital bought a new stake in Lucid Group during the first quarter valued at about $136,000. 75.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 61.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LCID. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Stock Up 2.1 %

NASDAQ LCID opened at $3.40 on Friday. Lucid Group, Inc. has a 1-year low of $2.29 and a 1-year high of $5.38. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -2.68 and a beta of 1.04. The stock’s 50 day moving average is $3.53 and its two-hundred day moving average is $3.09. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The company had revenue of $200.58 million for the quarter, compared to the consensus estimate of $190.30 million. During the same period in the previous year, the business posted ($0.40) earnings per share. The firm’s revenue was up 32.9% compared to the same quarter last year. Equities analysts forecast that Lucid Group, Inc. will post -1.28 earnings per share 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.