Daiwa Securities Group Inc. Has $65,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Daiwa Securities Group Inc. increased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 43.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,092 shares of the company’s stock after acquiring an additional 7,636 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lucid Group were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LCID. Accredited Investors Inc. acquired a new position in Lucid Group in the 2nd quarter valued at $27,000. Meeder Advisory Services Inc. acquired a new position in Lucid Group in the 1st quarter valued at $29,000. Norden Group LLC acquired a new position in Lucid Group in the 1st quarter valued at $32,000. Heritage Wealth Advisors grew its holdings in Lucid Group by 53.3% in the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock valued at $33,000 after buying an additional 4,000 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Lucid Group in the 2nd quarter valued at $34,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the transaction, the senior vice president now directly owns 2,028,268 shares in the company, valued at $6,368,761.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 61.26% of the stock is owned by corporate insiders.

Lucid Group Price Performance

Lucid Group stock opened at $3.78 on Wednesday. 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 company has a market capitalization of $8.72 billion, a PE ratio of -2.98 and a beta of 1.05. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $5.90. The stock has a 50-day moving average price of $3.55 and a two-hundred day moving average price of $3.03.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. Lucid Group’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) earnings per share. Analysts expect that Lucid Group, Inc. will post -1.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a report on Monday, September 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, July 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.71.

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.