Caprock Group LLC Lowers Position in Lucid Group, Inc. (NASDAQ:LCID)

Caprock Group LLC trimmed its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 69.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,258 shares of the company’s stock after selling 131,703 shares during the period. Caprock Group LLC’s holdings in Lucid Group were worth $176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LCID. Mine & Arao Wealth Creation & Management LLC. bought a new stake in Lucid Group in the 4th quarter worth approximately $44,000. R Squared Ltd bought a new stake in Lucid Group in the fourth quarter worth $145,000. Foster Group Inc. bought a new stake in Lucid Group in the fourth quarter worth $33,000. Prospect Financial Services LLC purchased a new stake in Lucid Group during the fourth quarter valued at $160,000. Finally, Two West Capital Advisors LLC bought a new position in Lucid Group during the fourth quarter valued at $36,000. 75.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LCID has been the topic of a number of research reports. Cfra set a $2.00 target price on shares of Lucid Group in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.04.

Lucid Group Trading Down 2.1 %

Shares of NASDAQ LCID opened at $2.83 on Friday. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market cap of $8.52 billion, a price-to-earnings ratio of -2.11 and a beta of 0.93. The business’s 50 day moving average price is $2.82 and its 200-day moving average price is $2.99.

Lucid Group (NASDAQ:LCID) last released its 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). The business had revenue of $200.04 million during the quarter, compared to analysts’ expectations of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same quarter in the previous year, the business earned ($0.28) EPS. On average, sell-side analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current 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.