111 Capital Makes New $52,000 Investment in Lucid Group, Inc. (NASDAQ:LCID)

111 Capital acquired a new position in Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,318 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in Lucid Group in the fourth quarter worth about $28,000. Accredited Investors Inc. purchased a new stake in Lucid Group in the fourth quarter worth about $30,000. Proficio Capital Partners LLC purchased a new stake in Lucid Group in the fourth quarter worth about $31,000. DRW Securities LLC purchased a new stake in Lucid Group in the fourth quarter worth about $31,000. Finally, First National Corp MA ADV bought a new position in shares of Lucid Group in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Down 7.9%

Shares of Lucid Group stock opened at $2.22 on Friday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -1.66 and a beta of 0.88. The company’s 50 day moving average is $2.49 and its 200 day moving average is $2.58. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The firm’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.27) EPS. Research analysts anticipate that Lucid Group, Inc. will post -1.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LCID. Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a research note on Tuesday, March 18th. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a research note on Friday, March 7th. Redburn Atlantic downgraded shares of Lucid Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Robert W. Baird upped their target price on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.68.

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.