EP Wealth Advisors LLC Acquires 10,585 Shares of Lucid Group, Inc. (NASDAQ:LCID)

EP Wealth Advisors LLC increased its position in Lucid Group, Inc. (NASDAQ:LCID) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,729 shares of the company’s stock after purchasing an additional 10,585 shares during the quarter. EP Wealth Advisors LLC’s holdings in Lucid Group were worth $93,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LCID. GAMMA Investing LLC bought a new position in Lucid Group in the fourth quarter worth $28,000. Meeder Advisory Services Inc. acquired a new stake in shares of Lucid Group in the first quarter valued at $29,000. Norden Group LLC acquired a new stake in shares of Lucid Group in the first quarter valued at $32,000. Heritage Wealth Advisors increased its stake in shares of Lucid Group by 53.3% in the first 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, Summit Trail Advisors LLC acquired a new stake in shares of Lucid Group in the first quarter valued at $35,000. 75.17% of the stock is owned by institutional investors.

Lucid Group Stock Down 2.3 %

Shares of LCID stock opened at $3.38 on Friday. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $2.96 and a 200-day moving average of $2.95. Lucid Group, Inc. has a one year low of $2.29 and a one year high of $7.75.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The company had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. During the same period last year, the company earned ($0.43) earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that Lucid Group, Inc. will post -1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on LCID. Citigroup reiterated a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “underweight” rating and issued a $4.00 price objective on shares of Lucid Group in a research report on Monday, July 22nd. Stifel Nicolaus lowered their price objective on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, July 8th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Lucid Group has a consensus rating of “Hold” and a consensus target price of $4.14.

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.