Headlands Technologies LLC Acquires New Position in Lucid Group, Inc. $LCID

Headlands Technologies LLC acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 204,423 shares of the company’s stock, valued at approximately $1,368,000.

Several other institutional investors also recently bought and sold shares of LCID. EverSource Wealth Advisors LLC lifted its stake in shares of Lucid Group by 1,574.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,914 shares of the company’s stock worth $28,000 after buying an additional 2,740 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock valued at $33,000 after purchasing an additional 5,000 shares in the last quarter. Jump Financial LLC bought a new position in Lucid Group in the second quarter worth $41,000. Worldquant Millennium Advisors LLC bought a new position in Lucid Group in the second quarter worth $59,000. Finally, Leonteq Securities AG acquired a new stake in Lucid Group during the fourth quarter worth $67,000. 75.17% of the stock is currently owned by institutional investors.

Lucid Group Stock Performance

Lucid Group stock opened at $4.85 on Tuesday. Lucid Group, Inc. has a 12-month low of $2.37 and a 12-month high of $25.23. The company has a quick ratio of 0.57, a current ratio of 1.14 and a debt-to-equity ratio of 3.00. The stock has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $7.30. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -0.35 and a beta of 0.83.

Lucid Group (NASDAQ:LCID) last released its earnings results on Tuesday, August 4th. The company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). The firm had revenue of $405.35 million for the quarter, compared to the consensus estimate of $381.59 million. Lucid Group had a negative return on equity of 1,391.51% and a negative net margin of 249.21%.The company’s revenue was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) EPS. On average, research analysts anticipate that Lucid Group, Inc. will post -12.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LCID has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $7.00 price objective (down from $8.00) on shares of Lucid Group in a report on Monday, July 13th. Robert W. Baird set a $6.00 price target on shares of Lucid Group in a research note on Wednesday, May 6th. Zacks Research raised Lucid Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. TD Cowen lowered their price objective on Lucid Group from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, Benchmark cut Lucid Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.22.

Lucid Group Company Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.