Cwm LLC Has $121,000 Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Cwm LLC raised its stake in Lucid Group, Inc. (NASDAQ:LCID) by 24.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 34,350 shares of the company’s stock after buying an additional 6,771 shares during the period. Cwm LLC’s holdings in Lucid Group were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LCID. Sanctuary Advisors LLC bought a new position in shares of Lucid Group in the 2nd quarter valued at $26,000. Accredited Investors Inc. bought a new position in Lucid Group in the second quarter valued at about $27,000. Frank Rimerman Advisors LLC boosted its stake in shares of Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in shares of Lucid Group during the first quarter worth about $29,000. Finally, Norden Group LLC acquired a new position in shares of Lucid Group in the first quarter valued at approximately $32,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.50 on Friday. 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 twelve month low of $2.29 and a twelve month high of $5.31. The company has a fifty day moving average of $3.47 and a 200-day moving average of $3.09. The firm has a market capitalization of $5.77 billion, a P/E ratio of -1.97 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. During the same period last year, the firm posted ($0.40) earnings per share. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -1.28 EPS for the current year.

Insider Activity 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 transaction 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 approximately $6,368,761.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 61.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LCID. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Cfra set a $2.00 price target on Lucid Group in a research note on Thursday, October 17th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, Lucid Group has a consensus rating of “Hold” and an average price target of $3.54.

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.