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

Tyche Wealth Partners LLC purchased a new position in Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,110 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new position in shares of Lucid Group during the 1st quarter worth about $25,000. First Manhattan Co. lifted its position in shares of Lucid Group by 666.7% during the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Lucid Group by 283.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock worth $34,000 after purchasing an additional 3,671 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Lucid Group by 127.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Lucid Group during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Up 0.8 %

NASDAQ LCID opened at $2.44 on Friday. The stock’s 50 day simple moving average is $2.98 and its 200 day simple moving average is $3.72. Lucid Group, Inc. has a one year low of $2.35 and a one year high of $8.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. The firm has a market cap of $5.61 billion, a PE ratio of -1.74 and a beta of 1.01.

Lucid Group (NASDAQ:LCID) last posted 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). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. During the same period in the prior year, the company posted ($0.40) EPS. The firm’s quarterly revenue was down 39.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Lucid Group, Inc. will post -1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.