Waldron Private Wealth LLC Invests $72,000 in Lucid Group, Inc. (NASDAQ:LCID)

Waldron Private Wealth LLC purchased a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,255 shares of the company’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LCID. Vontobel Holding Ltd. boosted its position in shares of Lucid Group by 157.6% during the 4th quarter. Vontobel Holding Ltd. now owns 413,706 shares of the company’s stock worth $1,742,000 after purchasing an additional 253,121 shares in the last quarter. Capital Square LLC lifted its stake in shares of Lucid Group by 34.7% in the fourth quarter. Capital Square LLC now owns 18,615 shares of the company’s stock valued at $78,000 after purchasing an additional 4,800 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Lucid Group during the fourth quarter worth about $78,000. Mirae Asset Global Investments Co. Ltd. grew its position in Lucid Group by 10.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after buying an additional 1,060,588 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Lucid Group during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Performance

Shares of LCID opened at $2.40 on Wednesday. Lucid Group, Inc. has a 1 year low of $2.35 and a 1 year high of $8.37. The company’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $3.74. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of -1.71 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The business had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. Lucid Group’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.40) EPS. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.06 EPS for the current year.

Analyst Ratings Changes

LCID has been the topic of several research analyst reports. Robert W. Baird decreased their price target on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, March 25th. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Bank of America cut their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus lowered their price objective on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average target price of $4.80.

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.