Kestra Private Wealth Services LLC Boosts Stake in Lucid Group, Inc. (NASDAQ:LCID)

Kestra Private Wealth Services LLC raised its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,744 shares of the company’s stock after acquiring an additional 8,820 shares during the period. Kestra Private Wealth Services LLC’s holdings in Lucid Group were worth $174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LCID. Raymond James Financial Inc. purchased a new stake in Lucid Group during the fourth quarter valued at about $780,000. American Century Companies Inc. boosted its position in shares of Lucid Group by 12.8% in the fourth quarter. American Century Companies Inc. now owns 83,632 shares of the company’s stock worth $253,000 after buying an additional 9,475 shares during the period. Sei Investments Co. boosted its position in shares of Lucid Group by 14.0% in the fourth quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock worth $109,000 after buying an additional 4,431 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Lucid Group in the fourth quarter worth about $547,000. Finally, LPL Financial LLC boosted its position in shares of Lucid Group by 15.8% in the fourth quarter. LPL Financial LLC now owns 293,090 shares of the company’s stock worth $885,000 after buying an additional 39,945 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Price Performance

LCID opened at $2.79 on Tuesday. The stock has a fifty day moving average of $2.39 and a 200-day moving average of $2.51. The firm has a market capitalization of $8.51 billion, a P/E ratio of -2.31 and a beta of 0.78. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a quick ratio of 2.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.65.

Lucid Group (NASDAQ:LCID) last announced 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). Lucid Group had a negative return on equity of 68.64% and a negative net margin of 275.73%. The firm had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. Lucid Group’s revenue was up 36.1% on a year-over-year basis. Equities analysts forecast that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Wednesday, May 7th. Robert W. Baird increased their price objective on Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Lucid Group has a consensus rating of “Hold” and a consensus target price of $2.68.

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.