Kingswood Wealth Advisors LLC Makes New $34,000 Investment in Lucid Group, Inc. (NASDAQ:LCID)

Kingswood Wealth Advisors 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 Securities and Exchange Commission. The firm acquired 11,330 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in 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 worth $17,991,000 after buying an additional 2,335,452 shares in the last quarter. Point72 Italy S.r.l. acquired a new stake in shares of Lucid Group during the third quarter valued at $3,209,000. Handelsbanken Fonder AB increased its position in Lucid Group by 18.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 264,900 shares of the company’s stock worth $935,000 after purchasing an additional 40,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Lucid Group by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after purchasing an additional 6,374 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Lucid Group by 4,301.7% in the 4th 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 in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Up 1.5 %

LCID opened at $2.76 on Monday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The firm has a 50 day moving average price of $2.75 and a 200 day moving average price of $3.01. The company has a market cap of $8.31 billion, a PE ratio of -2.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share 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 for the quarter, compared to analysts’ expectations of $199.50 million. During the same period last year, the company posted ($0.28) earnings per share. Sell-side analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LCID. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday, November 11th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Finally, Cfra set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.04.

Lucid Group Company 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.