Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its position in Lucid Group, Inc. (NASDAQ:LCID) by 12.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,916 shares of the company’s stock after purchasing an additional 5,337 shares during the quarter. Amalgamated Bank’s holdings in Lucid Group were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Lucid Group by 34.0% during the first quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock worth $2,558,000 after buying an additional 227,908 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after purchasing an additional 489,187 shares during the last quarter. KBC Group NV raised its position in Lucid Group by 19.2% in the fourth quarter. KBC Group NV now owns 39,171 shares of the company’s stock valued at $165,000 after purchasing an additional 6,323 shares during the period. Price T Rowe Associates Inc. MD raised its position in Lucid Group by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock valued at $1,242,000 after purchasing an additional 23,752 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Lucid Group by 24.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company’s stock worth $7,184,000 after purchasing an additional 334,923 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LCID shares. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Monday. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, July 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Stock Performance

NASDAQ:LCID opened at $3.26 on Wednesday. The business’s fifty day moving average price is $3.53 and its 200 day moving average price is $3.06. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $5.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The firm has a market capitalization of $7.52 billion, a PE ratio of -2.57 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, sell-side analysts anticipate that Lucid Group, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Activity

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares in the company, valued at $6,368,761.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 61.26% of the company’s stock.

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.