Lucid Group, Inc. $LCID Shares Acquired by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management raised its Lucid stake by 11.1% in Q2 to 340,533 shares (about $719,000), and institutional ownership totals roughly 75.17% with other large investors (Swiss National Bank, Vanguard, Geode, SG Americas) also adjusting positions.
• Lucid reported a quarterly EPS of -$2.65, missing estimates and posting a negative net margin despite revenue rising 68.3% to $336.6M (also below forecasts); the stock traded around $13.38 with a market cap of about $4.34 billion.
• Analysts are mixed but cautious: the consensus rating is "Reduce" with a $24.04 average target (2 Buys, 6 Holds, 3 Sells).

Rockefeller Capital Management L.P. boosted its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,533 shares of the company's stock after acquiring an additional 34,116 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Lucid Group were worth $719,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Lucid Group by 26.9% during the 1st quarter. Swiss National Bank now owns 2,334,000 shares of the company's stock worth $5,648,000 after purchasing an additional 495,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Lucid Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 110,933,835 shares of the company's stock valued at $268,460,000 after buying an additional 615,108 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in Lucid Group by 33.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 475,360 shares of the company's stock worth $1,003,000 after buying an additional 118,746 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lucid Group by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,642,839 shares of the company's stock worth $47,784,000 after acquiring an additional 1,554,419 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Lucid Group by 417.3% in the 2nd quarter. SG Americas Securities LLC now owns 1,328,819 shares of the company's stock valued at $2,804,000 after acquiring an additional 1,071,950 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company's stock.

Lucid Group Stock Up 1.9%

Shares of NASDAQ:LCID opened at $13.38 on Thursday. Lucid Group, Inc. has a 1-year low of $11.46 and a 1-year high of $36.40. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. The stock has a market cap of $4.34 billion, a P/E ratio of -1.25 and a beta of 0.80. The firm has a fifty day moving average price of $18.91 and a 200 day moving average price of $21.59.

Lucid Group (NASDAQ:LCID - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing analysts' consensus estimates of ($2.32) by ($0.33). Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The business had revenue of $336.58 million during the quarter, compared to analyst estimates of $378.44 million. During the same quarter in the prior year, the firm posted ($2.76) earnings per share. The company's revenue for the quarter was up 68.3% compared to the same quarter last year. Sell-side analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Lucid Group in a research note on Wednesday, November 19th. Morgan Stanley boosted their price objective on shares of Lucid Group to $30.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Stifel Nicolaus lowered their target price on shares of Lucid Group from $21.00 to $17.00 and set a "hold" rating for the company in a report on Monday, November 17th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Lucid Group in a research note on Tuesday. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Lucid Group has an average rating of "Reduce" and a consensus target price of $24.04.

Lucid Group 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.

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