PFG Investments LLC Invests $47,000 in Lucid Group, Inc. (NASDAQ:LCID)

PFG Investments LLC acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,530 shares of the company’s stock, valued at approximately $47,000.

Several other large investors also recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd raised its holdings in shares of Lucid Group by 127.6% in the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after purchasing an additional 3,700 shares in the last quarter. GAMMA Investing LLC acquired a new position in Lucid Group during the 4th quarter valued at about $28,000. Banque Cantonale Vaudoise acquired a new stake in Lucid Group in the third quarter worth about $38,000. China Universal Asset Management Co. Ltd. boosted its holdings in Lucid Group by 309.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 8,468 shares of the company’s stock worth $47,000 after acquiring an additional 6,398 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Lucid Group during the fourth quarter worth about $43,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Lucid Group Stock Performance

Shares of LCID stock traded up $0.01 on Friday, hitting $2.79. The company had a trading volume of 17,083,278 shares, compared to its average volume of 19,646,904. The firm has a market cap of $6.41 billion, a P/E ratio of -1.99 and a beta of 1.04. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $8.37. The company has a 50-day moving average price of $2.77 and a 200-day moving average price of $3.51. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. During the same period in the previous year, the business earned ($0.40) EPS. Lucid Group’s revenue for the quarter was down 39.0% compared to the same quarter last year. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Cantor Fitzgerald downgraded shares of Lucid Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $6.00 to $4.00 in a research note on Thursday, February 22nd. Bank of America cut their target price on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Robert W. Baird reduced their target price on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus dropped their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, Lucid Group presently has an average rating of “Hold” and an average target price of $4.34.

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.