Atlas Private Wealth Advisors Buys Shares of 11,658 Lucid Group, Inc. (NASDAQ:LCID)

Atlas Private Wealth Advisors bought a new stake in Lucid Group, Inc. (NASDAQ:LCID) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,658 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors also recently made changes to their positions in the business. Point72 Italy S.r.l. acquired a new stake in shares of Lucid Group during the 3rd quarter valued at approximately $3,209,000. Main Management ETF Advisors LLC acquired a new stake in shares of Lucid Group during the 3rd quarter valued at approximately $863,000. Charles Schwab Investment Management Inc. raised its position in shares of Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after acquiring an additional 2,335,452 shares in the last quarter. CWM LLC raised its position in shares of Lucid Group by 24.6% during the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after acquiring an additional 6,771 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lucid Group by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after acquiring an additional 6,374 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lucid Group news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the purchase, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 61.26% of the stock is currently owned by company insiders.

Lucid Group Trading Up 2.6 %

NASDAQ:LCID opened at $2.79 on Friday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of -2.08 and a beta of 0.94. The business has a fifty day moving average of $2.69 and a 200-day moving average of $3.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on LCID. Royal Bank of Canada dropped their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, November 11th. Cfra set a $2.00 target price on Lucid Group in a research report on Thursday, October 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lucid Group currently has a consensus rating of “Hold” and an average price target of $3.04.

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.