Leicht Financial Planning & Wealth Management Inc. Buys New Position in Lucid Group, Inc. (NASDAQ:LCID)

Leicht Financial Planning & Wealth Management Inc. bought a new position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,000 shares of the company's stock, valued at approximately $484,000. Lucid Group accounts for about 0.3% of Leicht Financial Planning & Wealth Management Inc.'s investment portfolio, making the stock its 18th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S grew its stake in Lucid Group by 43.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company's stock worth $43,000 after buying an additional 4,296 shares in the last quarter. Sei Investments Co. boosted its position in shares of Lucid Group by 14.0% during the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock worth $109,000 after acquiring an additional 4,431 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Lucid Group by 4.0% during the 4th quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock worth $363,000 after acquiring an additional 4,591 shares in the last quarter. Alpine Global Management LLC increased its stake in Lucid Group by 7.4% in the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock valued at $203,000 after acquiring an additional 4,653 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Lucid Group by 1.9% during the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company's stock valued at $818,000 after purchasing an additional 5,022 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Trading Down 1.8%

Shares of NASDAQ LCID traded down $0.04 during trading on Tuesday, reaching $2.19. The company had a trading volume of 96,073,083 shares, compared to its average volume of 76,582,573. The stock has a market cap of $6.68 billion, a P/E ratio of -1.63 and a beta of 0.81. The company's fifty day moving average price is $2.46 and its 200-day moving average price is $2.59. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43.

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

Analyst Upgrades and Downgrades

LCID has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $3.00 target price on shares of Lucid Group in a report on Wednesday, May 7th. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Needham & Company LLC reissued a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. TD Cowen began coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Finally, Benchmark reissued a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lucid Group currently has an average rating of "Hold" and a consensus target price of $2.68.

About Lucid Group

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.