Leicht Financial Planning & Wealth Management Inc. Takes Position in Lucid Group, Inc. (NASDAQ:LCID)

Leicht Financial Planning & Wealth Management Inc. bought a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the company’s stock, valued at approximately $484,000. Lucid Group comprises about 0.3% of Leicht Financial Planning & Wealth Management Inc.’s portfolio, making the stock its 18th largest holding.

Other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S raised its stake in Lucid Group by 43.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company’s stock valued at $43,000 after acquiring an additional 4,296 shares during the last quarter. Sei Investments Co. grew its stake in shares of Lucid Group by 14.0% in the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company’s stock valued at $109,000 after purchasing an additional 4,431 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Lucid Group by 4.0% in the fourth quarter. Voya Investment Management LLC now owns 120,067 shares of the company’s stock valued at $363,000 after purchasing an additional 4,591 shares during the period. Alpine Global Management LLC raised its stake in shares of Lucid Group by 7.4% during the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company’s stock worth $203,000 after purchasing an additional 4,653 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Lucid Group by 1.9% during the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company’s stock worth $818,000 after purchasing an additional 5,022 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LCID has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Wednesday, May 7th. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Lucid Group in a research note on Friday, March 7th. Stifel Nicolaus lowered their target price on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Robert W. Baird boosted their price target on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.68.

Lucid Group Price Performance

Shares of NASDAQ:LCID opened at $2.15 on Friday. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -1.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The business’s 50 day simple moving average is $2.46 and its 200-day simple moving average is $2.58. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The firm had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The firm’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. As a group, equities analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share 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.