Ethic Inc. Acquires 118,043 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Ethic Inc. lifted its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 518.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,812 shares of the company's stock after buying an additional 118,043 shares during the period. Ethic Inc.'s holdings in Lucid Group were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LCID. Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group during the 4th quarter worth about $28,000. Accredited Investors Inc. bought a new position in shares of Lucid Group during the fourth quarter worth approximately $30,000. Proficio Capital Partners LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $31,000. DRW Securities LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group during the fourth quarter worth $32,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of Lucid Group stock traded up $0.13 on Tuesday, reaching $2.81. 41,670,699 shares of the company traded hands, compared to its average volume of 68,229,452. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43. The company has a 50 day moving average of $2.43 and a 200 day moving average of $2.56. The firm has a market capitalization of $8.50 billion, a PE ratio of -2.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $235.05 million during the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the business posted ($0.27) earnings per share. The firm's quarterly revenue was up 36.1% on a year-over-year basis. Equities analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on LCID shares. Cowen started coverage on shares of Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating on the stock. Stifel Nicolaus dropped their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic lowered shares of Lucid Group from a "neutral" rating to a "sell" rating and dropped their target price for the company from $3.50 to $1.13 in a report on Monday, February 24th. Morgan Stanley upgraded shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price on the stock in a report on Tuesday, March 18th. Finally, TD Cowen assumed coverage on shares of Lucid Group in a report on Friday, March 7th. They set a "hold" rating and a $2.30 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $2.68.

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.