Foster Group Inc. Buys Shares of 11,000 Lucid Group, Inc. (NASDAQ:LCID)

Foster Group Inc. bought a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 11,000 shares of the company’s stock, valued at approximately $33,000.

A number of other large investors have also made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Lucid Group during the second quarter worth about $26,000. Wedge Capital Management L L P NC acquired a new stake in shares of Lucid Group in the 4th quarter worth approximately $33,000. Kingswood Wealth Advisors LLC purchased a new position in Lucid Group in the 4th quarter valued at approximately $34,000. Atlas Private Wealth Advisors acquired a new position in Lucid Group during the fourth quarter worth $35,000. Finally, GAMMA Investing LLC boosted its position in Lucid Group by 73.7% during the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after purchasing an additional 5,031 shares in the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Cfra set a $2.00 price target on Lucid Group in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Monday, November 11th. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.04.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.67 on Thursday. The business’s 50-day moving average price is $2.73 and its 200 day moving average price is $3.03. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The company has a market capitalization of $8.04 billion, a PE ratio of -1.99 and a beta of 0.94.

Lucid Group (NASDAQ:LCID) last released its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The company had revenue of $200.04 million during the quarter, compared to analyst estimates of $199.50 million. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, research analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

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.