Deuterium Capital Management LLC Takes $172,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Deuterium Capital Management LLC purchased a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds also recently added to or reduced their stakes in LCID. Northern Trust Corp raised its position in Lucid Group by 27.5% in the 2nd quarter. Northern Trust Corp now owns 4,572,241 shares of the company’s stock worth $31,503,000 after buying an additional 985,523 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Lucid Group by 8.4% during the second quarter. Osaic Holdings Inc. now owns 245,246 shares of the company’s stock valued at $1,699,000 after purchasing an additional 18,923 shares during the last quarter. Monashee Investment Management LLC bought a new position in Lucid Group during the second quarter valued at approximately $3,376,000. Profund Advisors LLC boosted its holdings in Lucid Group by 7.1% in the second quarter. Profund Advisors LLC now owns 81,306 shares of the company’s stock worth $560,000 after purchasing an additional 5,422 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Lucid Group in the 2nd quarter worth approximately $335,000.

Analysts Set New Price Targets

LCID has been the topic of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of Lucid Group in a research note on Tuesday, September 19th. BNP Paribas downgraded Lucid Group from a “neutral” rating to an “underperform” rating and cut their price target for the company from $6.50 to $5.00 in a research note on Friday, August 11th. Citigroup lowered their price objective on shares of Lucid Group from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Robert W. Baird assumed coverage on shares of Lucid Group in a report on Tuesday, September 5th. They issued a “neutral” rating and a $7.00 price objective on the stock. Finally, Needham & Company LLC reduced their target price on shares of Lucid Group from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Two investment analysts have 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.55.

Lucid Group Price Performance

Shares of LCID traded down $0.14 during mid-day trading on Tuesday, reaching $4.20. The stock had a trading volume of 7,431,989 shares, compared to its average volume of 32,114,541. The business has a fifty day moving average of $4.83 and a 200 day moving average of $6.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.42 and a current ratio of 5.19. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of -3.12 and a beta of 1.17. Lucid Group, Inc. has a 12 month low of $3.62 and a 12 month high of $17.81.

Lucid Group (NASDAQ:LCID) last issued its earnings results on Tuesday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $137.81 million during the quarter, compared to the consensus estimate of $185.10 million. Lucid Group had a negative return on equity of 58.91% and a negative net margin of 380.45%. The company’s quarterly revenue was down 29.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. Equities analysts predict that Lucid Group, Inc. will post -1.39 EPS for the current year.

Insider Activity at Lucid Group

In other Lucid Group news, SVP Michael Bell sold 46,735 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $6.01, for a total value of $280,877.35. Following the completion of the transaction, the senior vice president now directly owns 1,437,293 shares in the company, valued at approximately $8,638,130.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 62.50% of the stock is owned by corporate insiders.

About Lucid Group

Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.