Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 4,301.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 255,300 shares of the company’s stock after purchasing an additional 249,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Lucid Group were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in Lucid Group in the second quarter valued at $26,000. Wedge Capital Management L L P NC acquired a new position in shares of Lucid Group during the 4th quarter worth about $33,000. GAMMA Investing LLC increased its stake in Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after purchasing an additional 5,031 shares during the last quarter. Crumly & Associates Inc. acquired a new position in shares of Lucid Group in the 3rd quarter valued at $38,000. Finally, Latko Wealth Management Ltd. acquired a new stake in shares of Lucid Group during the third quarter worth about $39,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, November 11th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.04.

Lucid Group Stock Performance

LCID stock opened at $2.77 on Wednesday. The stock’s 50 day simple moving average is $2.71 and its 200 day simple moving average is $3.03. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The firm has a market cap of $8.34 billion, a P/E ratio of -2.07 and a beta of 0.94.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). The firm had revenue of $200.04 million during the quarter, compared to analyst estimates of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same period last year, the business earned ($0.28) EPS. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current year.

About Lucid Group

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.