Newbridge Financial Services Group Inc. Sells 5,075 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Newbridge Financial Services Group Inc. cut its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 26.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,368 shares of the company’s stock after selling 5,075 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Lucid Group were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LCID. UniSuper Management Pty Ltd boosted its stake in shares of Lucid Group by 127.6% in the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after purchasing an additional 3,700 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Lucid Group during the fourth quarter valued at about $28,000. Capital Performance Advisors LLP bought a new position in shares of Lucid Group during the fourth quarter valued at about $43,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Lucid Group during the third quarter valued at about $57,000. Finally, Tyche Wealth Partners LLC bought a new position in shares of Lucid Group during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Performance

Lucid Group stock traded down $0.02 during mid-day trading on Tuesday, reaching $2.59. 2,534,709 shares of the stock traded hands, compared to its average volume of 30,553,115. The business’s 50-day moving average is $2.68 and its 200-day moving average is $3.18. Lucid Group, Inc. has a 12-month low of $2.29 and a 12-month high of $8.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.66 and a quick ratio of 4.12. The stock has a market capitalization of $5.98 billion, a PE ratio of -2.06 and a beta of 1.06.

Lucid Group (NASDAQ:LCID) last released its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The company had revenue of $172.74 million for the quarter, compared to analysts’ expectations of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. Lucid Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.43) earnings per share. As a group, sell-side analysts predict that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Tuesday, May 7th. Citigroup restated a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a report on Monday, April 22nd. Bank of America dropped 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. Stifel Nicolaus reduced their price objective on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.24.

About Lucid Group

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.