Geneos Wealth Management Inc. Has $60,000 Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Geneos Wealth Management Inc. boosted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 55.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,849 shares of the company’s stock after purchasing an additional 7,080 shares during the period. Geneos Wealth Management Inc.’s holdings in Lucid Group were worth $60,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $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 Lucid Group in the 3rd quarter valued at about $3,209,000. Nisa Investment Advisors LLC raised its stake in shares of Lucid Group by 4,301.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after acquiring an additional 249,500 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Lucid Group during the third quarter worth approximately $863,000. Finally, Centiva Capital LP bought a new stake in shares of Lucid Group during the third quarter valued at approximately $824,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Up 1.5 %

Shares of NASDAQ:LCID opened at $2.76 on Friday. The company has a 50 day moving average price of $2.75 and a two-hundred day moving average price of $3.02. 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 capitalization of $8.31 billion, a PE ratio of -2.06 and a beta of 0.94. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $199.50 million. During the same period in the previous year, the business posted ($0.28) EPS. Analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LCID shares. 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 report on Tuesday, November 19th. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Tuesday, January 7th. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Finally, R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.04.

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.