Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its position in shares of Lucid Group, Inc. (NASDAQ:LCID – Get Rating) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,008 shares of the company’s stock after buying an additional 16,280 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Lucid Group were worth $1,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in Lucid Group by 60.8% in the 4th quarter. Allworth Financial LP now owns 3,730 shares of the company’s stock valued at $25,000 after purchasing an additional 1,410 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Lucid Group during the first quarter worth about $25,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of Lucid Group during the fourth quarter worth about $26,000. Armstrong Advisory Group Inc. purchased a new stake in Lucid Group during the 4th quarter valued at approximately $26,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Lucid Group during the 3rd quarter worth approximately $29,000.

Lucid Group Stock Performance

LCID opened at $7.18 on Friday. Lucid Group, Inc. has a 1-year low of $6.09 and a 1-year high of $21.78. The stock has a market cap of $13.17 billion, a P/E ratio of -4.99 and a beta of 1.11. The stock’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $8.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.06 and a quick ratio of 3.06.

Lucid Group (NASDAQ:LCID – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.01). The firm had revenue of $257.71 million during the quarter, compared to analyst estimates of $289.80 million. Lucid Group had a negative net margin of 286.13% and a negative return on equity of 59.10%. As a group, equities analysts anticipate that Lucid Group, Inc. will post -1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on LCID. Morgan Stanley cut their price target on Lucid Group from $10.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, January 25th. R. F. Lafferty reduced their target price on shares of Lucid Group from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Bank of America dropped their price target on shares of Lucid Group from $10.00 to $8.00 in a research note on Tuesday, May 9th. Cantor Fitzgerald reduced their price objective on shares of Lucid Group from $13.00 to $10.00 in a research report on Tuesday, May 9th. Finally, BNP Paribas cut Lucid Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Lucid Group has an average rating of “Hold” and a consensus price target of $9.79.

Lucid Group Profile

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.