Captrust Financial Advisors Raises Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Captrust Financial Advisors boosted its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 54.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,893 shares of the company’s stock after purchasing an additional 10,591 shares during the quarter. Captrust Financial Advisors’ holdings in Lucid Group were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LCID. Newbridge Financial Services Group Inc. purchased a new position in shares of Lucid Group in the 4th quarter valued at $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the 4th quarter worth about $30,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group during the 4th quarter worth about $31,000. DRW Securities LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth about $31,000. Finally, First National Corp MA ADV purchased a new position in Lucid Group during the fourth quarter valued at approximately $32,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LCID shares. Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Robert W. Baird upped their price target on Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Stifel Nicolaus decreased their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.68.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.66 on Friday. The firm has a market capitalization of $8.11 billion, a PE ratio of -1.99 and a beta of 0.88. The business’s fifty day moving average price is $2.47 and its 200 day moving average price is $2.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share (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 return on equity of 74.67% and a negative net margin of 406.63%. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.27) EPS. On average, sell-side analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal 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.