6,687 Shares in Lucid Group, Inc. (NASDAQ:LCID) Acquired by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,687 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Lucid Group by 1.0% in the third quarter. Arizona State Retirement System now owns 248,101 shares of the company’s stock valued at $1,387,000 after purchasing an additional 2,449 shares during the period. M&T Bank Corp raised its position in Lucid Group by 12.8% in the third quarter. M&T Bank Corp now owns 26,770 shares of the company’s stock valued at $150,000 after purchasing an additional 3,046 shares during the period. Principal Financial Group Inc. raised its position in Lucid Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 58,547 shares of the company’s stock valued at $327,000 after purchasing an additional 3,055 shares during the period. UniSuper Management Pty Ltd raised its position in Lucid Group by 127.6% in the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after purchasing an additional 3,700 shares during the period. Finally, New York Life Investment Management LLC raised its position in Lucid Group by 23.1% in the third quarter. New York Life Investment Management LLC now owns 20,583 shares of the company’s stock valued at $115,000 after purchasing an additional 3,858 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America reduced their target price on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $6.00 to $4.00 in a research note on Thursday, February 22nd. Robert W. Baird dropped their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research note on Monday, April 22nd. Finally, Stifel Nicolaus dropped their price objective on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.34.

Lucid Group Trading Up 9.5 %

LCID opened at $3.05 on Tuesday. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $8.37. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of -2.18 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. The business has a fifty day moving average price of $2.77 and a 200 day moving average price of $3.50.

Lucid Group (NASDAQ:LCID) last released its earnings results on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The company had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. The company’s revenue for the quarter was down 39.0% compared to the same quarter last year. Sell-side analysts expect that Lucid Group, Inc. will post -1.06 earnings per share for the current fiscal year.

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.