Amalgamated Bank Has $133,000 Stock Holdings in Lucid Group, Inc. $LCID

Amalgamated Bank lowered its position in Lucid Group, Inc. (NASDAQ:LCID) by 89.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,609 shares of the company’s stock after selling 49,741 shares during the quarter. Amalgamated Bank’s holdings in Lucid Group were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its position in Lucid Group by 9.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company’s stock valued at $25,000 after acquiring an additional 1,055 shares during the period. Heritage Wealth Advisors grew its stake in shares of Lucid Group by 43.5% in the second quarter. Heritage Wealth Advisors now owns 16,500 shares of the company’s stock worth $35,000 after purchasing an additional 5,000 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock worth $33,000 after purchasing an additional 5,000 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Lucid Group by 13.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,340 shares of the company’s stock valued at $87,000 after purchasing an additional 5,013 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in Lucid Group by 9.5% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 65,960 shares of the company’s stock worth $139,000 after purchasing an additional 5,696 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LCID shares. Zacks Research lowered Lucid Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Stifel Nicolaus cut their price objective on Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 17th. Morgan Stanley cut Lucid Group from a “buy” rating to an “underweight” rating and reduced their target price for the company from $30.00 to $10.00 in a report on Monday, December 8th. Royal Bank Of Canada lowered their price target on shares of Lucid Group from $20.00 to $14.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $18.92.

Lucid Group Price Performance

Lucid Group stock opened at $11.33 on Friday. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -1.06 and a beta of 0.89. Lucid Group, Inc. has a 52-week low of $9.50 and a 52-week high of $35.90. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81. The stock’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $17.85.

Lucid Group (NASDAQ:LCID) last released its earnings results on Wednesday, November 5th. The company reported ($2.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.32) by ($0.33). The company had revenue of $336.58 million for the quarter, compared to analyst estimates of $378.44 million. Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm’s revenue was up 68.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.76) EPS. On average, equities analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Lucid Group Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.