Hsbc Holdings PLC Boosts Holdings in Lucid Group, Inc. $LCID

Hsbc Holdings PLC grew its position in Lucid Group, Inc. (NASDAQ:LCID) by 576.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,395,795 shares of the company’s stock after purchasing an additional 2,893,951 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of Lucid Group worth $7,210,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in Lucid Group during the 1st quarter worth $8,226,000. Goldman Sachs Group Inc. boosted its holdings in Lucid Group by 112.0% in the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock worth $13,166,000 after acquiring an additional 2,874,603 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lucid Group by 7.4% during the second quarter. Geode Capital Management LLC now owns 22,642,839 shares of the company’s stock valued at $47,784,000 after acquiring an additional 1,554,419 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Lucid Group in the 2nd quarter valued at approximately $3,245,000. Finally, SG Americas Securities LLC boosted its stake in Lucid Group by 417.3% in the 2nd quarter. SG Americas Securities LLC now owns 1,328,819 shares of the company’s stock worth $2,804,000 after purchasing an additional 1,071,950 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Lucid Group to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 2nd. Stifel Nicolaus reduced their target price on Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $24.04.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $14.15 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of -1.32 and a beta of 0.86. The firm’s 50 day simple moving average is $17.87 and its 200-day simple moving average is $21.07. Lucid Group, Inc. has a 12 month low of $11.46 and a 12 month high of $36.40.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing the consensus estimate of ($2.32) by ($0.33). The firm had revenue of $336.58 million for the quarter, compared to analyst estimates of $378.44 million. Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm’s quarterly revenue was up 68.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.76) EPS. Analysts expect that Lucid Group, Inc. will post -1.25 EPS 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.