Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC grew its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,431 shares of the company’s stock after acquiring an additional 5,702 shares during the period. EP Wealth Advisors LLC’s holdings in Lucid Group were worth $100,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC grew its stake in Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after acquiring an additional 9,250 shares during the last quarter. Meeder Advisory Services Inc. purchased a new position in shares of Lucid Group during the 1st quarter worth approximately $29,000. Accredited Investors Inc. acquired a new position in shares of Lucid Group during the 2nd quarter worth approximately $27,000. HighPoint Advisor Group LLC purchased a new stake in Lucid Group in the 4th quarter valued at approximately $46,000. Finally, Norden Group LLC purchased a new stake in Lucid Group in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Buying and Selling at Lucid Group

In other Lucid Group 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 directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 61.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LCID shares. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, July 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and a consensus target price of $3.71.

Lucid Group Price Performance

Shares of LCID stock opened at $3.34 on Friday. The firm has a fifty day simple moving average of $3.53 and a 200-day simple moving average of $3.07. The company has a market capitalization of $7.71 billion, a PE ratio of -2.63 and a beta of 1.04. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $5.50. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59.

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 analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The firm had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $190.30 million. During the same period in the previous year, the company earned ($0.40) earnings per share. The business’s quarterly revenue was up 32.9% on a year-over-year basis. Equities research analysts anticipate that Lucid Group, Inc. will post -1.27 earnings per share for the current fiscal 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.