Independent Advisor Alliance Acquires 20,742 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Independent Advisor Alliance lifted its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 61.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,686 shares of the company’s stock after acquiring an additional 20,742 shares during the period. Independent Advisor Alliance’s holdings in Lucid Group were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LCID. Vanguard Group Inc. grew its position in Lucid Group by 25.0% in the 3rd quarter. Vanguard Group Inc. now owns 51,587,700 shares of the company’s stock worth $720,681,000 after purchasing an additional 10,320,437 shares during the period. BlackRock Inc. lifted its stake in shares of Lucid Group by 23.7% during the 1st quarter. BlackRock Inc. now owns 15,623,711 shares of the company’s stock valued at $396,842,000 after buying an additional 2,990,659 shares in the last quarter. State Street Corp lifted its stake in shares of Lucid Group by 1.2% during the 3rd quarter. State Street Corp now owns 10,952,030 shares of the company’s stock valued at $153,000,000 after buying an additional 129,252 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Lucid Group by 42.7% during the 4th quarter. First Trust Advisors LP now owns 9,736,116 shares of the company’s stock valued at $66,482,000 after purchasing an additional 2,914,581 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lucid Group by 4.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,296,405 shares of the company’s stock valued at $74,743,000 after purchasing an additional 356,291 shares during the last quarter.

Insider Buying and Selling

In other news, Director Public Investment Fund purchased 265,693,703 shares of Lucid Group stock in a transaction dated Thursday, June 22nd. The stock was bought at an average price of $6.83 per share, with a total value of $1,814,687,991.49. Following the completion of the acquisition, the director now owns 1,366,658,905 shares in the company, valued at approximately $9,334,280,321.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 62.50% of the company’s stock.

Lucid Group Trading Down 0.9 %

NASDAQ LCID opened at $6.30 on Wednesday. Lucid Group, Inc. has a one year low of $5.46 and a one year high of $17.81. The company’s 50 day moving average price is $6.81 and its 200 day moving average price is $7.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 6.11 and a current ratio of 7.07. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of -4.17 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). The firm had revenue of $150.90 million for the quarter, compared to analysts’ expectations of $181.58 million. Lucid Group had a negative net margin of 337.97% and a negative return on equity of 64.02%. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) EPS. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.51 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on LCID. Citigroup reduced their price objective on shares of Lucid Group from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Needham & Company LLC reduced their target price on shares of Lucid Group from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. BNP Paribas lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $6.50 to $5.00 in a research report on Friday, August 11th. Robert W. Baird began coverage on shares of Lucid Group in a research report on Tuesday. They set a “neutral” rating and a $7.00 price target on the stock. Finally, Cantor Fitzgerald decreased their target price on shares of Lucid Group from $13.00 to $10.00 in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.39.

About Lucid Group

Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.