Wedmont Private Capital Invests $136,000 in Lucid Group, Inc. (NASDAQ:LCID)

Wedmont Private Capital purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the first quarter, according to its most recent filing with the SEC. The firm purchased 50,540 shares of the company’s stock, valued at approximately $136,000.

A number of other hedge funds have also modified their holdings of LCID. GAMMA Investing LLC bought a new stake in Lucid Group in the fourth quarter valued at approximately $28,000. Tyche Wealth Partners LLC bought a new stake in shares of Lucid Group in the 4th quarter valued at $43,000. MGO Private Wealth LLC acquired a new stake in Lucid Group during the 4th quarter worth $43,000. Capital Performance Advisors LLP bought a new position in Lucid Group during the fourth quarter worth about $43,000. Finally, HighPoint Advisor Group LLC acquired a new position in Lucid Group in the fourth quarter valued at about $46,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Down 2.0 %

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

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (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 the consensus estimate 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 period last year, the company posted ($0.43) earnings per share. Analysts anticipate that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.