Atlas Private Wealth Advisors Invests $35,000 in Lucid Group, Inc. (NASDAQ:LCID)

Atlas Private Wealth Advisors bought a new stake in Lucid Group, Inc. (NASDAQ:LCID) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,658 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Lucid Group in the 2nd quarter valued at about $26,000. Wedge Capital Management L L P NC acquired a new position in Lucid Group in the 4th quarter valued at about $33,000. GAMMA Investing LLC raised its stake in Lucid Group by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $36,000 after purchasing an additional 5,031 shares during the last quarter. Crumly & Associates Inc. acquired a new position in Lucid Group in the 3rd quarter valued at about $38,000. Finally, Latko Wealth Management Ltd. acquired a new position in Lucid Group in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Insiders Place Their Bets

In related news, Director Public Investment Fund purchased 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the acquisition, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. The trade was a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 61.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LCID shares. R. F. Lafferty raised shares of 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. Robert W. Baird restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, October 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Tuesday, January 7th. Cfra set a $2.00 price target on Lucid Group in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.04.

Lucid Group Stock Up 2.6 %

Shares of NASDAQ:LCID opened at $2.79 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The stock has a market capitalization of $8.40 billion, a P/E ratio of -2.08 and a beta of 0.94. The stock has a 50-day simple moving average of $2.69 and a 200-day simple moving average of $3.05.

Lucid Group (NASDAQ:LCID) last issued 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 for the quarter, compared to analysts’ expectations of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same quarter in the previous year, the firm posted ($0.28) EPS. Equities analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current 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.