Signaturefd LLC Grows Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

Signaturefd LLC boosted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 39.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,493 shares of the company’s stock after purchasing an additional 10,383 shares during the period. Signaturefd LLC’s holdings in Lucid Group were worth $129,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Friedenthal Financial bought a new stake in Lucid Group during the 3rd quarter valued at approximately $50,000. Bleakley Financial Group LLC bought a new stake in Lucid Group during the 3rd quarter valued at approximately $49,000. Tamar Securities LLC bought a new stake in Lucid Group during the 3rd quarter valued at approximately $45,000. Vontobel Holding Ltd. boosted its position in shares of Lucid Group by 39.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 129,102 shares of the company’s stock worth $456,000 after purchasing an additional 36,651 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Lucid Group by 54.3% in the 3rd quarter. Creative Planning now owns 224,031 shares of the company’s stock worth $791,000 after purchasing an additional 78,839 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Buying and Selling

In related news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 61.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of analyst reports. Cfra set a $2.00 price target on Lucid Group in a research report on Thursday, October 17th. Cantor Fitzgerald reissued a “neutral” rating and issued 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 research report on Wednesday, September 11th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.54.

Lucid Group Trading Up 0.8 %

NASDAQ:LCID opened at $2.52 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. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of -1.98 and a beta of 1.04. Lucid Group, Inc. has a one year low of $2.29 and a one year high of $5.31. The business has a fifty day moving average price of $3.46 and a 200-day moving average price of $3.10.

Lucid Group (NASDAQ:LCID) last issued 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). 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%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. 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.