Vanguard Group Inc. Has $127.49 Million Stake in Lucid Group, Inc. $LCID

Vanguard Group Inc. grew its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,061,286 shares of the company’s stock after buying an additional 701,826 shares during the period. Vanguard Group Inc.’s holdings in Lucid Group were worth $127,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in Lucid Group during the third quarter valued at approximately $1,361,978,000. Y Intercept Hong Kong Ltd bought a new position in shares of Lucid Group during the third quarter worth $2,248,000. SG Americas Securities LLC grew its holdings in shares of Lucid Group by 65.9% in the 4th quarter. SG Americas Securities LLC now owns 181,153 shares of the company’s stock valued at $1,915,000 after buying an additional 71,966 shares during the period. Calamos Advisors LLC acquired a new position in shares of Lucid Group in the 4th quarter valued at $1,586,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Lucid Group by 67.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,519 shares of the company’s stock valued at $777,000 after buying an additional 29,536 shares in the last quarter. 75.17% of the stock is owned by institutional investors.

Lucid Group Price Performance

Shares of LCID opened at $6.01 on Wednesday. The stock has a market capitalization of $1.97 billion, a P/E ratio of -0.46 and a beta of 0.88. Lucid Group, Inc. has a twelve month low of $5.62 and a twelve month high of $33.70. The company has a 50 day moving average of $8.60 and a 200-day moving average of $11.09. The company has a quick ratio of 0.48, a current ratio of 1.02 and a debt-to-equity ratio of 3.00.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($3.46) EPS for the quarter, missing analysts’ consensus estimates of ($2.53) by ($0.93). Lucid Group had a negative return on equity of 304.01% and a negative net margin of 248.09%.The business had revenue of $282.47 million during the quarter, compared to the consensus estimate of $358.46 million. During the same period in the prior year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Lucid Group, Inc. will post -10.75 EPS for the current fiscal year.

Analyst Ratings Changes

LCID has been the topic of several research analyst reports. TD Cowen dropped 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. Robert W. Baird set a $6.00 price target on Lucid Group in a report on Wednesday, May 6th. Benchmark lowered Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a report on Friday, March 27th. Finally, Zacks Research upgraded Lucid Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $10.00.

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.