Choreo LLC Takes Position in Lucid Group, Inc. (NASDAQ:LCID)

Choreo LLC acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,046 shares of the company’s stock, valued at approximately $66,000.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Lucid Group by 34.0% during the first quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock valued at $2,558,000 after acquiring an additional 227,908 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Lucid Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after acquiring an additional 489,187 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lucid Group by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock valued at $11,488,000 after acquiring an additional 195,519 shares in the last quarter. KBC Group NV raised its holdings in shares of Lucid Group by 19.2% during the fourth quarter. KBC Group NV now owns 39,171 shares of the company’s stock valued at $165,000 after acquiring an additional 6,323 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Lucid Group by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock valued at $1,242,000 after acquiring an additional 23,752 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Transactions at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the stock in a transaction 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 of the company’s stock, valued at $6,368,761.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 61.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada restated 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 target price on shares of Lucid Group in a report on Monday, July 8th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.71.

Lucid Group Price Performance

LCID opened at $3.49 on Friday. The stock has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $3.03. 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 cap of $8.05 billion, a price-to-earnings ratio of -2.76 and a beta of 1.05. Lucid Group, Inc. has a 12-month low of $2.29 and a 12-month high of $5.70.

Lucid Group (NASDAQ:LCID) last released its 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). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The company had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $190.30 million. During the same period in the prior year, the company posted ($0.40) earnings per share. The company’s revenue was up 32.9% on a year-over-year basis. Research analysts predict that Lucid Group, Inc. will post -1.22 earnings per share for the current fiscal year.

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.