Sanctuary Advisors LLC Purchases Shares of 10,577 Lucid Group, Inc. (NASDAQ:LCID)

Sanctuary Advisors LLC purchased a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) during the second quarter, HoldingsChannel reports. The institutional investor purchased 10,577 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co lifted its position in shares of Lucid Group by 34.9% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after purchasing an additional 3,549 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Lucid Group by 6.0% in the second quarter. Principal Financial Group Inc. now owns 66,004 shares of the company’s stock worth $172,000 after buying an additional 3,715 shares during the last quarter. Heritage Wealth Advisors increased its stake in shares of Lucid Group by 53.3% in the first quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after buying an additional 4,000 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Lucid Group by 5.5% in the first quarter. First Trust Direct Indexing L.P. now owns 82,922 shares of the company’s stock worth $236,000 after buying an additional 4,350 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Lucid Group by 12.5% in the second quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after buying an additional 5,337 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on LCID. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research note on Tuesday, October 8th. One equities 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.54.

Insider Activity

In other news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $6,368,761.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 61.26% of the company’s stock.

Lucid Group Stock Down 3.0 %

LCID stock opened at $2.55 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. Lucid Group, Inc. has a 1-year low of $2.29 and a 1-year high of $5.31. The firm has a fifty day moving average price of $3.52 and a two-hundred day moving average price of $3.10. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -2.01 and a beta of 1.04.

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

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.