Dimensional Fund Advisors LP Has $12.19 Million Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Dimensional Fund Advisors LP boosted its holdings in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,034,932 shares of the company's stock after acquiring an additional 208,220 shares during the quarter. Dimensional Fund Advisors LP owned 0.13% of Lucid Group worth $12,190,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LCID. Vanguard Group Inc. increased its position in Lucid Group by 31.1% in the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock valued at $333,163,000 after acquiring an additional 26,172,852 shares during the period. Renaissance Technologies LLC boosted its stake in Lucid Group by 342.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock valued at $49,950,000 after purchasing an additional 12,803,987 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lucid Group by 31.4% during the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock valued at $61,214,000 after purchasing an additional 4,844,782 shares in the last quarter. First Trust Advisors LP boosted its stake in Lucid Group by 51.7% during the 4th quarter. First Trust Advisors LP now owns 10,261,050 shares of the company's stock valued at $30,988,000 after purchasing an additional 3,495,392 shares in the last quarter. Finally, Norges Bank bought a new position in Lucid Group during the 4th quarter valued at $9,446,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LCID. TD Cowen began coverage on Lucid Group in a research note on Friday, March 7th. They set a "hold" rating and a $2.30 price target for the company. Cowen began coverage on Lucid Group in a research note on Thursday, March 6th. They set a "hold" rating for the company. Redburn Atlantic cut Lucid Group from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Stifel Nicolaus decreased their target price on Lucid Group from $3.50 to $3.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Robert W. Baird raised their target price on Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Lucid Group presently has a consensus rating of "Hold" and an average price target of $2.68.

Lucid Group Stock Performance

LCID stock traded up $0.02 during trading on Tuesday, reaching $2.64. 40,731,244 shares of the stock were exchanged, compared to its average volume of 66,582,082. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The company has a market capitalization of $8.00 billion, a P/E ratio of -1.97 and a beta of 0.88. The stock has a 50 day simple moving average of $2.37 and a 200-day simple moving average of $2.55. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). The company had revenue of $235.05 million for 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 firm's revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.27) earnings per share. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

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.