Choreo LLC Acquires New Shares in Lucid Group, Inc. (NASDAQ:LCID)

Choreo LLC acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 25,046 shares of the company’s stock, valued at approximately $66,000.

Other institutional investors also recently modified their holdings of the company. Accredited Investors Inc. purchased a new stake in shares of Lucid Group during the second quarter valued at $27,000. Meeder Advisory Services Inc. purchased a new stake in shares of Lucid Group during the first quarter valued at $29,000. Norden Group LLC purchased a new stake in shares of Lucid Group during the first quarter valued at $32,000. Heritage Wealth Advisors boosted its position in shares of Lucid Group by 53.3% during the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after buying an additional 4,000 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Lucid Group during the second quarter valued at $34,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Stock Down 3.3 %

NASDAQ LCID opened at $3.49 on Friday. The stock’s 50-day moving average price is $3.57 and its 200-day moving average price is $3.03. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59. Lucid Group, Inc. has a 52 week low of $2.29 and a 52 week high of $5.70. The company has a market capitalization of $8.05 billion, a P/E ratio of -2.76 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The company had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. During the same period last year, the business earned ($0.40) EPS. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities research analysts predict that Lucid Group, Inc. will post -1.22 earnings per share for the current year.

Insider Transactions at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 61.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LCID. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Monday, September 9th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.71.

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.