Envestnet Asset Management Inc. Boosts Stake in Lucid Group, Inc. (NASDAQ:LCID)

Envestnet Asset Management Inc. boosted its position in Lucid Group, Inc. (NASDAQ:LCID) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,619 shares of the company’s stock after acquiring an additional 6,994 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lucid Group were worth $165,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its position in Lucid Group by 14.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 65,191 shares of the company’s stock worth $226,000 after buying an additional 8,074 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Lucid Group by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after purchasing an additional 5,031 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Lucid Group during the 4th quarter valued at $151,000. Fermata Advisors LLC purchased a new position in Lucid Group in the 4th quarter worth $144,000. Finally, Wedge Capital Management L L P NC bought a new stake in Lucid Group in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LCID. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Cowen started coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a “hold” rating for the company. Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price target on the stock in a report on Tuesday, March 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.68.

Lucid Group Trading Up 2.9 %

Lucid Group stock opened at $2.32 on Friday. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $2.35 and its two-hundred day simple moving average is $2.55. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of -1.73 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The firm had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period last year, the company posted ($0.27) earnings per share. As a group, equities analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Lucid Group 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.