Kestra Private Wealth Services LLC Buys 28,605 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Kestra Private Wealth Services LLC grew its stake in Lucid Group, Inc. (NASDAQ:LCID) by 146.1% during the 4th quarter, HoldingsChannel reports. The firm owned 48,180 shares of the company’s stock after acquiring an additional 28,605 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Lucid Group were worth $203,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Arizona State Retirement System grew its stake in shares of Lucid Group by 1.0% in the 3rd 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 grew its position in Lucid Group by 12.8% during the 3rd quarter. M&T Bank Corp now owns 26,770 shares of the company’s stock worth $150,000 after acquiring an additional 3,046 shares during the last quarter. Principal Financial Group Inc. grew its position in Lucid Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 58,547 shares of the company’s stock worth $327,000 after acquiring an additional 3,055 shares during the last quarter. UniSuper Management Pty Ltd grew its position in Lucid Group by 127.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after acquiring an additional 3,700 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position in Lucid Group by 23.1% during the 3rd quarter. New York Life Investment Management LLC now owns 20,583 shares of the company’s stock worth $115,000 after acquiring an additional 3,858 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LCID. Stifel Nicolaus decreased their price target on Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday. Morgan Stanley restated an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, March 25th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Tuesday. Robert W. Baird decreased their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Finally, Bank of America decreased their price objective 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. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and a consensus target price of $4.24.

Lucid Group Stock Performance

LCID stock opened at $2.70 on Friday. The business’s fifty day moving average is $2.74 and its 200-day moving average is $3.46. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43. The company has a market cap of $6.21 billion, a P/E ratio of -1.93 and a beta of 1.04. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $8.37.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The company had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the company earned ($0.43) EPS. Equities research analysts forecast that Lucid Group, Inc. will post -1.06 EPS for the current year.

Lucid Group Company Profile

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.