Universal Beteiligungs und Servicegesellschaft mbH Invests $146,000 in Lucid Group, Inc. (NASDAQ:LCID)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Lucid Group, Inc. (NASDAQ:LCID) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,264 shares of the company’s stock, valued at approximately $146,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Alliance LLC bought a new position in shares of Lucid Group in the first quarter valued at approximately $121,000. Kestra Private Wealth Services LLC boosted its stake in shares of Lucid Group by 14.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 71,744 shares of the company’s stock valued at $174,000 after purchasing an additional 8,820 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Lucid Group by 58.7% during the 1st quarter. Wealthfront Advisers LLC now owns 233,286 shares of the company’s stock worth $565,000 after buying an additional 86,255 shares in the last quarter. CWM LLC lifted its position in Lucid Group by 32.0% during the 1st quarter. CWM LLC now owns 27,947 shares of the company’s stock worth $68,000 after buying an additional 6,771 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Lucid Group by 27.1% during the 1st quarter. Arizona State Retirement System now owns 344,014 shares of the company’s stock worth $833,000 after purchasing an additional 73,261 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on LCID. 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 note on Monday, April 21st. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and a consensus target price of $2.68.

Lucid Group Stock Up 0.4%

LCID stock opened at $2.42 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.32 and a quick ratio of 2.97. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -2.00 and a beta of 0.79. The business’s fifty day moving average price is $2.36 and its two-hundred day moving average price is $2.49. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43.

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