Greenleaf Trust Acquires 4,604 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Greenleaf Trust grew its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 22.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,487 shares of the company’s stock after purchasing an additional 4,604 shares during the quarter. Greenleaf Trust’s holdings in Lucid Group were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LCID. Waldron Private Wealth LLC bought a new position in Lucid Group in the third quarter valued at about $49,000. Signaturefd LLC grew its holdings in shares of Lucid Group by 39.8% during the 3rd quarter. Signaturefd LLC now owns 36,493 shares of the company’s stock valued at $129,000 after purchasing an additional 10,383 shares during the last quarter. Friedenthal Financial acquired a new position in Lucid Group during the 3rd quarter worth approximately $50,000. Bleakley Financial Group LLC bought a new position in Lucid Group in the 3rd quarter valued at approximately $49,000. Finally, Tamar Securities LLC acquired a new stake in Lucid Group in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Insiders Place Their Bets

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the 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 transaction, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 61.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LCID has been the subject of several research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Robert W. Baird reiterated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Cfra set a $2.00 price target on shares of Lucid Group in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.54.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.50 on Monday. The company has a market capitalization of $5.77 billion, a PE ratio of -1.97 and a beta of 1.04. 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 twelve month low of $2.29 and a twelve month high of $5.31. The firm has a fifty day simple moving average of $3.47 and a 200 day simple moving average of $3.10.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data 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). The business 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%. The business’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the business posted ($0.40) earnings per share. On average, sell-side analysts forecast 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.