10,577 Shares in Lucid Group, Inc. (NASDAQ:LCID) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,577 shares of the company’s stock, valued at approximately $26,000.

A number of other large investors have also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Lucid Group in the 2nd quarter worth $63,000. Truist Financial Corp increased its holdings in shares of Lucid Group by 40.2% in the 2nd quarter. Truist Financial Corp now owns 37,760 shares of the company’s stock valued at $99,000 after purchasing an additional 10,828 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Lucid Group by 17.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,431 shares of the company’s stock valued at $100,000 after purchasing an additional 5,702 shares in the last quarter. Algert Global LLC purchased a new position in shares of Lucid Group in the 2nd quarter valued at about $243,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Lucid Group by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 257,027 shares of the company’s stock valued at $671,000 after purchasing an additional 7,536 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.55 on Tuesday. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $3.52 and a two-hundred day moving average price of $3.10. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $5.31. The company has a market capitalization of $5.88 billion, a P/E ratio of -2.01 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The firm had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.40) earnings per share. As a group, research analysts expect that Lucid Group, Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 61.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LCID shares. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price target on shares of Lucid Group in a report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of Lucid Group in a report on Thursday, September 12th. Finally, Cfra set a $2.00 price target on shares of Lucid Group in a report on Thursday. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.54.

Lucid Group 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.