Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 23.8% during the third quarter, Holdings Channel reports. The institutional investor owned 11,560 shares of the company’s stock after selling 3,606 shares during the period. Valeo Financial Advisors LLC’s holdings in Lucid Group were worth $41,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LCID. Vanguard Group Inc. lifted its holdings in shares of Lucid Group by 12.4% in the fourth quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after buying an additional 9,175,312 shares during the period. HighPoint Advisor Group LLC acquired a new stake in Lucid Group in the 4th quarter valued at about $46,000. Wedmont Private Capital acquired a new stake in Lucid Group in the 1st quarter valued at about $136,000. Ballentine Partners LLC boosted its position in shares of Lucid Group by 154.2% during the 1st quarter. Ballentine Partners LLC now owns 28,693 shares of the company’s stock valued at $82,000 after purchasing an additional 17,405 shares in the last quarter. Finally, True North Advisors LLC raised its holdings in shares of Lucid Group by 43.0% in the 1st quarter. True North Advisors LLC now owns 54,871 shares of the company’s stock worth $156,000 after purchasing an additional 16,501 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 61.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Robert W. Baird reissued a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.71.

Lucid Group Stock Down 1.8 %

Shares of Lucid Group stock opened at $3.27 on Wednesday. Lucid Group, Inc. has a 1 year low of $2.29 and a 1 year high of $5.38. The company has a market cap of $7.54 billion, a P/E ratio of -2.57 and a beta of 1.04. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $3.54 and a 200 day moving average price of $3.10.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $190.30 million. During the same period last year, the company earned ($0.40) earnings per share. Lucid Group’s revenue for the quarter was up 32.9% compared to the same quarter last year. As a group, analysts expect that Lucid Group, Inc. will post -1.28 EPS 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.