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

Vanguard Group Inc. raised its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,061,286 shares of the company’s stock after acquiring an additional 701,826 shares during the quarter. Vanguard Group Inc. owned approximately 3.72% of Lucid Group worth $127,488,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in Lucid Group during the 3rd quarter valued at about $1,361,978,000. Uber Technologies Inc acquired a new stake in shares of Lucid Group during the third quarter worth approximately $326,283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Lucid Group by 39.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock valued at $25,973,000 after acquiring an additional 3,465,542 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Lucid Group by 112.0% in the 1st 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. Finally, BNP Paribas Financial Markets grew its position in Lucid Group by 93.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,485,715 shares of the company’s stock worth $9,465,000 after acquiring an additional 2,167,882 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Lucid Group Trading Down 0.3%

Shares of LCID opened at $6.01 on Wednesday. The stock’s fifty day simple moving average is $8.60 and its 200-day simple moving average is $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. The firm has a market capitalization of $1.97 billion, a PE ratio of -0.46 and a beta of 0.88. Lucid Group, Inc. has a 12-month low of $5.62 and a 12-month high of $33.70.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LCID shares. Citigroup began coverage on Lucid Group in a research report on Wednesday, March 18th. They issued a “buy” rating and a $17.00 price objective for the company. Royal Bank Of Canada cut their price target on Lucid Group from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. Benchmark lowered shares of Lucid Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Friday, March 27th. Finally, Evercore set a $6.00 target price on shares of Lucid Group in a research note on Monday. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price 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.