Parallel Advisors LLC purchased a new position in Lucid Group, Inc. (NASDAQ:LCID – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,208 shares of the company’s stock, valued at approximately $32,000.
Several other institutional investors have also added to or reduced their stakes in LCID. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Lucid Group in the fourth quarter worth approximately $27,000. IronBridge Private Wealth LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth about $28,000. Toth Financial Advisory Corp boosted its stake in Lucid Group by 255.6% during the fourth quarter. Toth Financial Advisory Corp now owns 800 shares of the company’s stock valued at $30,000 after buying an additional 575 shares during the last quarter. Trustcore Financial Services LLC boosted its stake in Lucid Group by 180.0% during the fourth quarter. Trustcore Financial Services LLC now owns 812 shares of the company’s stock valued at $31,000 after buying an additional 522 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in Lucid Group by 325.0% during the fourth quarter. HM Payson & Co. now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 650 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on LCID shares. BNP Paribas started coverage on Lucid Group in a research note on Monday, April 11th. They set an “outperform” rating and a $45.00 price target for the company. Citigroup dropped their price target on Lucid Group from $45.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 9th. Finally, Exane BNP Paribas assumed coverage on Lucid Group in a report on Monday, April 11th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of 34.17.
Lucid Group Trading Down 8.4 %
Shares of NASDAQ:LCID opened at 19.68 on Monday. Lucid Group, Inc. has a 52-week low of 13.25 and a 52-week high of 57.75. The business’s 50 day moving average is 18.57 and its 200 day moving average is 23.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.45 and a quick ratio of 10.80.
Lucid Group (NASDAQ:LCID – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported -0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of -0.30 by 0.25. The firm had revenue of 57.70 million during the quarter, compared to the consensus estimate of 55.56 million. Lucid Group’s quarterly revenue was up 18334.5% compared to the same quarter last year. Sell-side analysts predict that Lucid Group, Inc. will post -1.4 EPS for the current fiscal year.
Lucid Group Company Profile
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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.
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