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

BNP Paribas Financial Markets acquired a new stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group during the fourth quarter worth approximately $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the fourth quarter worth approximately $30,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group during the fourth quarter worth approximately $31,000. DRW Securities LLC acquired a new stake in shares of Lucid Group in the 4th quarter valued at $31,000. Finally, First National Corp MA ADV acquired a new stake in shares of Lucid Group in the 4th quarter valued at $32,000. Institutional investors own 75.17% of the company's stock.

Lucid Group Trading Up 4.6%

Shares of LCID stock traded up $0.13 during mid-day trading on Friday, hitting $2.82. The company's stock had a trading volume of 54,254,677 shares, compared to its average volume of 67,420,428. The company's fifty day simple moving average is $2.41 and its 200-day simple moving average is $2.55. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market cap of $8.53 billion, a PE ratio of -2.10 and a beta of 0.88.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price on the stock in a report on Tuesday, March 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a report on Wednesday, February 26th. TD Cowen initiated coverage on Lucid Group in a report on Friday, March 7th. They set a "hold" rating and a $2.30 price objective on the stock. Benchmark reissued a "buy" rating and set a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.68.

Lucid Group Company 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.