Raymond James & Associates Has $1.19 Million Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Raymond James & Associates lessened its position in Lucid Group, Inc. (NASDAQ:LCIDFree Report) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,004 shares of the company’s stock after selling 42,862 shares during the quarter. Raymond James & Associates’ holdings in Lucid Group were worth $1,191,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LCID. Robeco Institutional Asset Management B.V. grew its stake in Lucid Group by 52.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 13,261 shares of the company’s stock valued at $74,000 after purchasing an additional 4,590 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Lucid Group by 15.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 172,105 shares of the company’s stock valued at $962,000 after purchasing an additional 22,425 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Lucid Group by 31.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 315,800 shares of the company’s stock valued at $1,765,000 after purchasing an additional 75,700 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in Lucid Group by 97.2% in the third quarter. Compagnie Lombard Odier SCmA now owns 85,200 shares of the company’s stock valued at $476,000 after purchasing an additional 42,000 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its stake in Lucid Group by 33.4% in the third quarter. FAS Wealth Partners Inc. now owns 13,620 shares of the company’s stock valued at $76,000 after purchasing an additional 3,410 shares in the last quarter.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.65 on Monday. The stock has a fifty day moving average price of $3.94 and a 200-day moving average price of $5.06. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -1.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.42 and a current ratio of 5.19. Lucid Group, Inc. has a fifty-two week low of $2.54 and a fifty-two week high of $17.81.

Lucid Group (NASDAQ:LCIDGet Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Lucid Group had a negative return on equity of 58.91% and a negative net margin of 380.45%. The business had revenue of $137.81 million for the quarter, compared to the consensus estimate of $185.10 million. During the same quarter in the prior year, the company earned ($0.40) earnings per share. Lucid Group’s quarterly revenue was down 29.5% compared to the same quarter last year. As a group, equities analysts anticipate that Lucid Group, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LCID shares. R. F. Lafferty downgraded Lucid Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $5.00 in a research note on Wednesday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $6.00 target price on shares of Lucid Group in a report on Friday, January 12th. Needham & Company LLC lowered Lucid Group from a “buy” rating to a “hold” rating in a report on Monday, November 27th. Stifel Nicolaus started coverage on Lucid Group in a report on Thursday, December 7th. They set a “hold” rating and a $5.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Lucid Group from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.85.

Read Our Latest Stock Report on LCID

Lucid Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

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