25,130 Shares in Lucid Group, Inc. (NASDAQ:LCID) Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new position in Lucid Group, Inc. (NASDAQ:LCID) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,130 shares of the company’s stock, valued at approximately $106,000.

Other institutional investors also recently bought and sold shares of the company. 1832 Asset Management L.P. acquired a new position in shares of Lucid Group during the 1st quarter worth approximately $25,000. First Manhattan Co. boosted its holdings in shares of Lucid Group by 666.7% during the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Lucid Group by 283.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock worth $34,000 after purchasing an additional 3,671 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Lucid Group by 127.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Lucid Group during the 3rd quarter worth approximately $38,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LCID. Morgan Stanley restated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Stifel Nicolaus lowered their target price on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Bank of America reduced their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald lowered shares of Lucid Group from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $6.00 to $4.00 in a research report on Thursday, February 22nd. Finally, Robert W. Baird reduced their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.80.

Lucid Group Trading Up 0.8 %

Shares of NASDAQ LCID opened at $2.42 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. Lucid Group, Inc. has a 52-week low of $2.35 and a 52-week high of $8.37. The business’s 50 day moving average is $3.00 and its two-hundred day moving average is $3.73.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The firm had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The firm’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.40) EPS. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.06 EPS for the current fiscal 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.