MGO Private Wealth LLC Makes New $43,000 Investment in Lucid Group, Inc. (NASDAQ:LCID)

MGO Private Wealth LLC purchased a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,135 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Lucid Group by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 248,101 shares of the company’s stock worth $1,387,000 after buying an additional 2,449 shares during the last quarter. M&T Bank Corp increased its holdings in Lucid Group by 12.8% in the 3rd quarter. M&T Bank Corp now owns 26,770 shares of the company’s stock valued at $150,000 after purchasing an additional 3,046 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Lucid Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 58,547 shares of the company’s stock valued at $327,000 after purchasing an additional 3,055 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in Lucid Group by 33.4% in the 3rd quarter. FAS Wealth Partners Inc. now owns 13,620 shares of the company’s stock valued at $76,000 after purchasing an additional 3,410 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LCID shares. Cantor Fitzgerald downgraded shares of Lucid Group from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Robert W. Baird dropped their target price 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. Stifel Nicolaus dropped their target price 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. Bank of America dropped their target price 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. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.34.

Lucid Group Trading Up 0.4 %

Shares of NASDAQ:LCID traded up $0.01 during trading on Friday, hitting $2.46. The company’s stock had a trading volume of 13,041,757 shares, compared to its average volume of 18,608,388. The business has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $3.59. Lucid Group, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $8.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The firm had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. Lucid Group’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share. On average, sell-side analysts forecast that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.

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.