10,918 Shares in Lucid Group, Inc. (NASDAQ:LCID) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,918 shares of the company’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its stake in shares of Lucid Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 330,438 shares of the company’s stock valued at $1,391,000 after buying an additional 3,230 shares during the period. Apollon Wealth Management LLC raised its position in shares of Lucid Group by 24.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,103 shares of the company’s stock worth $89,000 after acquiring an additional 4,170 shares in the last quarter. Capital Square LLC raised its position in shares of Lucid Group by 34.7% during the 4th quarter. Capital Square LLC now owns 18,615 shares of the company’s stock worth $78,000 after acquiring an additional 4,800 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of Lucid Group by 2.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 290,103 shares of the company’s stock worth $1,221,000 after acquiring an additional 5,627 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Lucid Group by 19.2% during the 4th quarter. KBC Group NV now owns 39,171 shares of the company’s stock worth $165,000 after acquiring an additional 6,323 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LCID shares. Morgan Stanley reissued an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, March 25th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Tuesday, May 7th. Stifel Nicolaus decreased their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup reiterated a “neutral” rating and set a $2.90 target price on shares of Lucid Group in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, Lucid Group has an average rating of “Hold” and an average target price of $4.24.

Lucid Group Stock Performance

Shares of NASDAQ:LCID opened at $2.49 on Monday. The firm has a market capitalization of $5.74 billion, a PE ratio of -1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.12. The business has a 50-day moving average of $2.68 and a two-hundred day moving average of $3.13. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $8.37.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The firm had revenue of $172.74 million for the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. As a group, research analysts forecast that Lucid Group, Inc. will post -1.16 earnings per share for the current year.

Lucid Group Profile

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.