Geneos Wealth Management Inc. Buys 7,080 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Geneos Wealth Management Inc. boosted its stake in Lucid Group, Inc. (NASDAQ:LCID) by 55.4% during the 4th quarter, HoldingsChannel reports. The fund owned 19,849 shares of the company’s stock after acquiring an additional 7,080 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Lucid Group were worth $60,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Italy S.r.l. bought a new stake in shares of Lucid Group in the third quarter valued at about $3,209,000. Main Management ETF Advisors LLC acquired a new position in Lucid Group during the 3rd quarter worth approximately $863,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. CWM LLC lifted its position in shares of Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company’s stock worth $121,000 after purchasing an additional 6,771 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after purchasing an additional 249,500 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on LCID shares. Royal Bank of Canada cut their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Tuesday, January 7th. Finally, Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.04.

Lucid Group Stock Up 1.5 %

Shares of LCID opened at $2.76 on Friday. The firm’s 50-day simple moving average is $2.75 and its 200 day simple moving average is $3.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The firm has a market cap of $8.31 billion, a P/E ratio of -2.06 and a beta of 0.94. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). The firm had revenue of $200.04 million for the quarter, compared to the consensus estimate of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same quarter last year, the business posted ($0.28) EPS. On average, analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Lucid Group Company 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.