Lake Street Advisors Group LLC Acquires Shares of 14,421 Lucid Group, Inc. (NASDAQ:LCID)

Lake Street Advisors Group LLC bought a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,421 shares of the company’s stock, valued at approximately $38,000.

Other large investors also recently modified their holdings of the company. Accredited Investors Inc. bought a new stake in Lucid Group during the 2nd quarter valued at $27,000. Meeder Advisory Services Inc. bought a new stake in shares of Lucid Group during the first quarter worth about $29,000. Norden Group LLC acquired a new stake in shares of Lucid Group in the 1st quarter worth about $32,000. Heritage Wealth Advisors lifted its position in Lucid Group by 53.3% in the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after acquiring an additional 4,000 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Lucid Group during the 2nd quarter valued at about $34,000. 75.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Friday, August 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Monday, July 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Tuesday, August 6th. 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 data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and a consensus price target of $3.71.

Lucid Group Trading Down 3.1 %

Shares of Lucid Group stock opened at $3.46 on Tuesday. The firm has a market cap of $7.98 billion, a PE ratio of -2.72 and a beta of 1.05. Lucid Group, Inc. has a 1 year low of $2.29 and a 1 year high of $6.12. 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 stock has a fifty day moving average price of $3.45 and a 200-day moving average price of $3.00.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data 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 company had revenue of $200.58 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) EPS. Equities research analysts anticipate that Lucid Group, Inc. will post -1.22 EPS for the current year.

Insider Transactions 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 value of $282,471.26. Following the transaction, the senior vice president now owns 2,028,268 shares in the company, valued at $6,368,761.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 61.26% of the stock is currently owned by company insiders.

Lucid Group 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.