Lucid Group, Inc. (NASDAQ:LCID) Holdings Raised by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,677 shares of the company’s stock after purchasing an additional 14,168 shares during the period. Commonwealth Equity Services LLC’s holdings in Lucid Group were worth $456,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LCID. Accredited Investors Inc. purchased a new stake in shares of Lucid Group during the second quarter valued at $27,000. Meeder Advisory Services Inc. purchased a new position in Lucid Group during the 1st quarter valued at about $29,000. Norden Group LLC acquired a new position in shares of Lucid Group in the 1st quarter valued at about $32,000. Heritage Wealth Advisors lifted its position 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 purchasing an additional 4,000 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Lucid Group in the second quarter worth approximately $34,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 61.26% of the stock is currently owned by company insiders.

Lucid Group Stock Down 3.3 %

Shares of NASDAQ LCID opened at $3.49 on Friday. The firm’s 50-day simple moving average is $3.55 and its 200 day simple moving average is $3.04. The company has a market cap of $8.05 billion, a price-to-earnings ratio of -2.75 and a beta of 1.05. 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 12-month low of $2.29 and a 12-month high of $5.70.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The company had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. During the same quarter last year, the company earned ($0.40) EPS. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. On average, research analysts expect that Lucid Group, Inc. will post -1.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a report on Monday, September 9th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a report on Thursday, September 12th. Finally, Robert W. Baird restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.71.

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.