BNP Paribas Financial Markets Acquires Shares of 2,268,797 Lucid Group, Inc. (NASDAQ:LCID)

BNP Paribas Financial Markets acquired a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,268,797 shares of the company's stock, valued at approximately $6,852,000. BNP Paribas Financial Markets owned 0.08% of Lucid Group at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LCID. Public Investment Fund boosted its holdings in shares of Lucid Group by 28.8% in the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock worth $5,348,084,000 after acquiring an additional 396,188,386 shares during the period. Vanguard Group Inc. raised its position in Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after purchasing an additional 26,172,852 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after buying an additional 12,803,987 shares during the period. Geode Capital Management LLC increased its holdings in shares of Lucid Group by 31.4% in the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock worth $61,214,000 after buying an additional 4,844,782 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Lucid Group by 51.7% in the fourth quarter. First Trust Advisors LP now owns 10,261,050 shares of the company's stock worth $30,988,000 after buying an additional 3,495,392 shares during the period. 75.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a report on Wednesday, May 7th. Redburn Atlantic cut Lucid Group from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Cowen initiated coverage on Lucid Group in a research report on Thursday, March 6th. They issued a "hold" rating on the stock. Bank of America cut Lucid Group from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $3.00 to $1.00 in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $2.68.

Lucid Group Trading Up 4.4%

NASDAQ:LCID opened at $2.62 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of -1.96 and a beta of 0.88. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The business has a fifty day moving average price of $2.37 and a 200-day moving average price of $2.55.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $235.05 million during the quarter, compared to analysts' expectations of $250.50 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The company's quarterly revenue was up 36.1% on a year-over-year basis. Sell-side analysts forecast that Lucid Group, Inc. will post -1.25 EPS 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.

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