SG Americas Securities LLC Acquires New Holdings in Lucid Group, Inc. (NASDAQ:LCID)

SG Americas Securities LLC bought a new position in Lucid Group, Inc. (NASDAQ:LCID) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 152,039 shares of the company’s stock, valued at approximately $537,000.

Several other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Lucid Group during the second quarter worth about $26,000. Accredited Investors Inc. purchased a new position in Lucid Group in the 2nd quarter worth approximately $27,000. Frank Rimerman Advisors LLC increased its holdings in shares of Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after buying an additional 9,250 shares during the last quarter. Meeder Advisory Services Inc. purchased a new stake in shares of Lucid Group during the 1st quarter valued at $29,000. Finally, Norden Group LLC bought a new stake in shares of Lucid Group during the 1st quarter worth $32,000. 75.17% of the stock is owned by institutional investors.

Insider Activity at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the company’s 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 completion of the transaction, the senior vice president now owns 2,028,268 shares in the company, valued at $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 61.26% of the stock is owned by company insiders.

Lucid Group Stock Down 1.8 %

Shares of Lucid Group stock opened at $3.27 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. Lucid Group, Inc. has a 52-week low of $2.29 and a 52-week high of $5.38. The company’s 50 day moving average price is $3.54 and its 200-day moving average price is $3.10. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -2.57 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The firm had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. Lucid Group’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. Equities research analysts forecast that Lucid Group, Inc. will post -1.28 EPS for the current year.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Thursday, September 12th. Finally, Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.71.

About Lucid Group

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.