Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 25.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,639 shares of the company’s stock after selling 7,167 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lucid Group were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Public Investment Fund boosted its stake in shares of Lucid Group by 28.8% during the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after purchasing an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Lucid Group by 31.1% during the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after purchasing an additional 26,172,852 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Lucid Group by 4,320.7% during the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock worth $47,873,000 after purchasing an additional 15,493,320 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lucid Group by 342.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after purchasing an additional 12,803,987 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Lucid Group during the 4th quarter worth about $34,123,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LCID has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Wednesday, May 7th. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Cowen initiated coverage on shares of Lucid Group in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Finally, Robert W. Baird raised their target price on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.68.

Lucid Group Trading Up 3.3%

NASDAQ LCID opened at $2.22 on Thursday. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The company’s 50 day moving average price is $2.43 and its 200 day moving average price is $2.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.97 and a current ratio of 3.32. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -1.83 and a beta of 0.81.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Lucid Group had a negative net margin of 275.73% and a negative return on equity of 68.64%. The business had revenue of $235.05 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the previous year, the business posted ($0.27) EPS. The company’s quarterly revenue was up 36.1% on a year-over-year basis. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current 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.