B. Riley Wealth Advisors Inc. Sells 6,363 Shares of Lucid Group, Inc. (NASDAQ:LCID)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,890 shares of the company’s stock after selling 6,363 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Lucid Group were worth $206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Lucid Group by 12.4% in the 4th quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after buying an additional 9,175,312 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Lucid Group by 10.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock valued at $48,109,000 after buying an additional 1,060,588 shares during the period. Norges Bank bought a new stake in Lucid Group in the 4th quarter valued at $22,208,000. Northern Trust Corp increased its holdings in Lucid Group by 13.8% in the 3rd quarter. Northern Trust Corp now owns 5,203,969 shares of the company’s stock valued at $29,090,000 after buying an additional 631,728 shares during the period. Finally, Legal & General Group Plc increased its holdings in Lucid Group by 5.2% in the 3rd quarter. Legal & General Group Plc now owns 5,096,665 shares of the company’s stock valued at $28,492,000 after buying an additional 253,149 shares during the period. Institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Stifel Nicolaus reduced their target price on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup restated a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average target price of $4.24.

Lucid Group Stock Down 2.2 %

Shares of NASDAQ LCID opened at $2.61 on Friday. The firm’s 50-day simple moving average is $2.70 and its 200 day simple moving average is $3.08. The company has a market cap of $6.02 billion, a price-to-earnings ratio of -2.06 and a beta of 1.06. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. Lucid Group, Inc. has a 12-month low of $2.29 and a 12-month high of $8.37.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The firm had revenue of $172.74 million for the quarter, compared to the consensus estimate of $173.54 million. Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.43) earnings per share. On average, research analysts expect that Lucid Group, Inc. will post -1.16 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.