Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by Ethic Inc.

Ethic Inc. lifted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 518.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,812 shares of the company's stock after purchasing an additional 118,043 shares during the quarter. Ethic Inc.'s holdings in Lucid Group were worth $425,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Lucid Group by 43.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,111 shares of the company's stock valued at $43,000 after acquiring an additional 4,296 shares in the last quarter. Sei Investments Co. increased its stake in Lucid Group by 14.0% in the fourth quarter. Sei Investments Co. now owns 36,031 shares of the company's stock valued at $109,000 after purchasing an additional 4,431 shares during the last quarter. Voya Investment Management LLC increased its stake in Lucid Group by 4.0% in the fourth quarter. Voya Investment Management LLC now owns 120,067 shares of the company's stock valued at $363,000 after purchasing an additional 4,591 shares during the last quarter. Alpine Global Management LLC increased its stake in Lucid Group by 7.4% in the fourth quarter. Alpine Global Management LLC now owns 67,153 shares of the company's stock valued at $203,000 after purchasing an additional 4,653 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Lucid Group by 1.9% in the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company's stock valued at $818,000 after purchasing an additional 5,022 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Stock Performance

Shares of NASDAQ LCID traded up $0.15 during mid-day trading on Friday, hitting $2.84. 122,015,751 shares of the company were exchanged, compared to its average volume of 68,008,771. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $2.42 and a 200-day simple moving average of $2.56. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of -2.12 and a beta of 0.88.

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 for the quarter, missing the consensus estimate 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 company had revenue of $235.05 million for the quarter, compared to analyst estimates of $250.50 million. During the same period in the prior year, the business earned ($0.27) earnings per share. Lucid Group's revenue for the quarter was up 36.1% compared to the same quarter last year. On average, sell-side analysts forecast that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Redburn Atlantic lowered shares of Lucid Group from a "neutral" rating to a "sell" rating and dropped their price target for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Robert W. Baird increased their price target on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Cowen started coverage on shares of Lucid Group in a research note on Thursday, March 6th. They issued a "hold" rating on the stock. Benchmark restated a "buy" rating and set a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $2.68.

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.