Prospect Financial Services LLC Takes $160,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Prospect Financial Services LLC acquired a new stake in Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 52,965 shares of the company’s stock, valued at approximately $160,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Pine Valley Investments Ltd Liability Co raised its position in shares of Lucid Group by 27.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock valued at $62,000 after buying an additional 3,816 shares during the last quarter. Greenleaf Trust raised its holdings in Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock valued at $90,000 after acquiring an additional 4,604 shares during the last quarter. GAMMA Investing LLC raised its holdings in Lucid Group by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after acquiring an additional 5,031 shares during the last quarter. SG Americas Securities LLC lifted its stake in Lucid Group by 3.4% in the 4th quarter. SG Americas Securities LLC now owns 157,160 shares of the company’s stock worth $475,000 after purchasing an additional 5,121 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Lucid Group by 12.5% during the 2nd quarter. Amalgamated Bank now owns 47,916 shares of the company’s stock worth $125,000 after purchasing an additional 5,337 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LCID has been the subject of several recent analyst reports. Cfra set a $2.00 price objective on shares of Lucid Group in a research report on Thursday, October 17th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Tuesday, January 7th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.04.

Insiders Place Their Bets

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

Lucid Group Trading Down 1.4 %

Shares of Lucid Group stock opened at $2.75 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The business’s fifty day moving average is $2.70 and its two-hundred day moving average is $3.04.

Lucid Group (NASDAQ:LCID) last issued 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). The firm had revenue of $200.04 million during the quarter, compared to analysts’ expectations of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same period last year, the business posted ($0.28) earnings per share. On average, research analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

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.