Two West Capital Advisors LLC Takes $36,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Two West Capital Advisors LLC bought a new position in Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LCID. Sanctuary Advisors LLC purchased a new position in Lucid Group during the 2nd quarter valued at about $26,000. Wedge Capital Management L L P NC bought a new stake in Lucid Group in the fourth quarter worth approximately $33,000. Kingswood Wealth Advisors LLC bought a new position in shares of Lucid Group during the 4th quarter valued at $34,000. Atlas Private Wealth Advisors acquired a new stake in shares of Lucid Group in the 4th quarter valued at $35,000. Finally, GAMMA Investing LLC boosted its holdings in Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after purchasing an additional 5,031 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

Insider Transactions at Lucid Group

In other news, Director Public Investment Fund purchased 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 61.26% of the stock is currently owned by corporate insiders.

Lucid Group Stock Up 2.6 %

LCID stock opened at $2.79 on Monday. The business’s 50 day moving average is $2.69 and its 200-day moving average is $3.05. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). The firm had revenue of $200.04 million during the quarter, compared to the consensus estimate of $199.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. During the same quarter last year, the firm posted ($0.28) EPS. On average, sell-side analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. 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. Royal Bank of Canada reduced their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 19th. Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. Finally, R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.04.

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.