Cwm LLC Boosts Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Cwm LLC increased its position in Lucid Group, Inc. (NASDAQ:LCID) by 75.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,587 shares of the company’s stock after purchasing an additional 10,593 shares during the quarter. Cwm LLC’s holdings in Lucid Group were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LCID. Alps Advisors Inc. boosted its stake in shares of Lucid Group by 19.8% during the 3rd quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company’s stock valued at $18,453,000 after buying an additional 546,676 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Lucid Group by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company’s stock valued at $23,562,000 after acquiring an additional 410,025 shares during the last quarter. Fulton Bank N.A. grew its holdings in Lucid Group by 46.5% during the 4th quarter. Fulton Bank N.A. now owns 63,511 shares of the company’s stock worth $267,000 after acquiring an additional 20,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Lucid Group by 10.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after purchasing an additional 1,060,588 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Lucid Group by 41.8% in the 3rd quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock valued at $33,466,000 after purchasing an additional 1,763,443 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LCID has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Morgan Stanley reissued an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, March 25th. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a report on Monday, April 22nd. Bank of America reduced their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus lowered their price objective on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.34.

Lucid Group Stock Performance

LCID opened at $3.05 on Tuesday. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $8.37. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43. The stock has a market cap of $7.02 billion, a PE ratio of -2.18 and a beta of 1.04. The business’s 50 day moving average is $2.77 and its 200-day moving average is $3.50.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (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 business had revenue of $157.20 million during the quarter, compared to the consensus estimate of $179.88 million. During the same period in the previous year, the company posted ($0.40) EPS. The company’s revenue for the quarter was down 39.0% compared to the same quarter last year. On average, analysts predict that Lucid Group, Inc. will post -1.06 earnings per share for the current 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.