Tyche Wealth Partners LLC Acquires Shares of 10,110 Lucid Group, Inc. (NASDAQ:LCID)

Tyche Wealth Partners LLC acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,110 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors have also added to or reduced their stakes in the company. 1832 Asset Management L.P. acquired a new position in Lucid Group during the first quarter valued at approximately $25,000. First Manhattan Co. raised its position in Lucid Group by 666.7% during the first quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock valued at $29,000 after purchasing an additional 1,000 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in Lucid Group by 283.3% during the second quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock valued at $34,000 after purchasing an additional 3,671 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after buying an additional 3,700 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Lucid Group during the third quarter worth $38,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.44 on Friday. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of -1.74 and a beta of 1.01. Lucid Group, Inc. has a twelve month low of $2.35 and a twelve month high of $8.37. The stock has a fifty day simple moving average of $2.98 and a 200 day simple moving average of $3.72. 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 posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The company had revenue of $157.20 million during the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The business’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) earnings per share. Sell-side analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Bank of America lowered their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Cantor Fitzgerald downgraded shares of Lucid Group from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Finally, Stifel Nicolaus lowered their price target on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Lucid Group currently has a consensus rating of “Hold” and a consensus target price of $4.80.

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.