47,257 Shares in Lucid Group, Inc. (NASDAQ:LCID) Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV acquired a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 47,257 shares of the company’s stock, valued at approximately $167,000.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in shares of Lucid Group in the 2nd quarter valued at about $26,000. Accredited Investors Inc. purchased a new position in shares of Lucid Group in the 2nd quarter valued at $27,000. Frank Rimerman Advisors LLC grew its position in shares of Lucid Group by 925.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after buying an additional 9,250 shares during the last quarter. Meeder Advisory Services Inc. acquired a new stake in Lucid Group during the 1st quarter worth $29,000. Finally, Norden Group LLC purchased a new stake in Lucid Group in the first quarter valued at $32,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LCID. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.71.

Lucid Group Stock Up 0.6 %

Shares of Lucid Group stock opened at $3.44 on Wednesday. The company has a market cap of $7.94 billion, a P/E ratio of -2.71 and a beta of 1.04. The firm has a fifty day moving average of $3.53 and a two-hundred day moving average of $3.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. Lucid Group, Inc. has a one year low of $2.29 and a one year high of $5.48.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The firm had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. During the same period in the prior year, the company earned ($0.40) earnings per share. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. On average, analysts forecast that Lucid Group, Inc. will post -1.27 earnings per share for the current year.

Insider Transactions at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the sale, the senior vice president now directly owns 2,028,268 shares in the company, valued at $6,368,761.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 61.26% of the company’s stock.

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.