Leicht Financial Planning & Wealth Management Inc. purchased a new position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 200,000 shares of the company's stock, valued at approximately $484,000. Lucid Group comprises 0.3% of Leicht Financial Planning & Wealth Management Inc.'s investment portfolio, making the stock its 18th biggest holding.
Several other large investors have also modified their holdings of LCID. Raymond James Financial Inc. purchased a new position in shares of Lucid Group during the 4th quarter worth approximately $780,000. XTX Topco Ltd raised its stake in shares of Lucid Group by 395.7% during the 4th quarter. XTX Topco Ltd now owns 849,140 shares of the company's stock worth $2,564,000 after buying an additional 677,846 shares in the last quarter. Norges Bank purchased a new position in Lucid Group in the fourth quarter worth $9,446,000. Renaissance Technologies LLC raised its position in Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after acquiring an additional 12,803,987 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Lucid Group by 4,320.7% in the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after acquiring an additional 15,493,320 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on LCID shares. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. Cowen initiated coverage on shares of Lucid Group in a report on Thursday, March 6th. They issued a "hold" rating for the company. Stifel Nicolaus dropped their target price on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and issued a $5.00 target price on shares of Lucid Group in a report on Friday, March 7th. Finally, Robert W. Baird increased their target price on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $2.68.
Get Our Latest Stock Analysis on LCID
Lucid Group Price Performance
Shares of LCID traded up $0.02 during mid-day trading on Friday, reaching $2.15. 129,825,360 shares of the company's stock were exchanged, compared to its average volume of 75,958,546. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The company has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $2.59. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. The company has a market cap of $6.56 billion, a price-to-earnings ratio of -1.60 and a beta of 0.81.
Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The company had revenue of $235.05 million for the quarter, compared to analysts' expectations of $250.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business's quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) EPS. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.
About Lucid Group
(
Free Report)
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.
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