Caprock Group LLC acquired a new stake in Lucid Group, Inc. (NASDAQ:LCID – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 176,802 shares of the company’s stock, valued at approximately $461,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LCID. Accredited Investors Inc. bought a new stake in Lucid Group in the second quarter valued at about $27,000. Meeder Advisory Services Inc. bought a new stake in Lucid Group in the first quarter valued at about $29,000. Norden Group LLC bought a new stake in Lucid Group in the first quarter valued at about $32,000. Heritage Wealth Advisors boosted its stake in Lucid Group by 53.3% in the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after acquiring an additional 4,000 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in Lucid Group in the second quarter valued at approximately $34,000. 75.17% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 61.26% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on LCID
Lucid Group Stock Performance
Shares of NASDAQ LCID opened at $3.91 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $3.51 and a 200-day simple moving average of $3.02. The company has a market cap of $9.02 billion, a PE ratio of -3.08 and a beta of 1.05. Lucid Group, Inc. has a 12-month low of $2.29 and a 12-month high of $6.12.
Lucid Group (NASDAQ:LCID – Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. On average, equities research analysts forecast that Lucid Group, Inc. will post -1.22 EPS 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.
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