Vontobel Holding Ltd. Purchases 289,880 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Vontobel Holding Ltd. grew its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 119.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 532,459 shares of the company's stock after purchasing an additional 289,880 shares during the quarter. Vontobel Holding Ltd.'s holdings in Lucid Group were worth $1,289,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Sterling Investment Counsel LLC bought a new position in Lucid Group in the 1st quarter worth approximately $25,000. Grimes & Company Inc. purchased a new stake in shares of Lucid Group during the first quarter worth $27,000. Accredited Investors Inc. purchased a new position in shares of Lucid Group in the fourth quarter valued at $30,000. Proficio Capital Partners LLC purchased a new position in shares of Lucid Group in the fourth quarter valued at $31,000. Finally, DRW Securities LLC bought a new stake in shares of Lucid Group during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 75.17% of the company's stock.

Lucid Group Trading Up 5.1%

Shares of Lucid Group stock traded up $0.11 during trading on Friday, reaching $2.16. The company's stock had a trading volume of 211,394,699 shares, compared to its average volume of 84,058,531. The company has a quick ratio of 2.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.65. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. The firm's 50-day moving average is $2.36 and its two-hundred day moving average is $2.57. The company has a market cap of $6.57 billion, a price-to-earnings ratio of -1.78 and a beta of 0.78.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings data 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 net margin of 275.73% and a negative return on equity of 68.64%. The company had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the business posted ($0.27) earnings per share. The firm's quarterly revenue was up 36.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Robert W. Baird lifted their target price on Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. TD Cowen started coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target for the company. Benchmark reiterated a "buy" rating and issued a $5.00 price objective on shares of Lucid Group in a research report on Friday, March 7th. 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. Finally, Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price on the stock in a research note on Tuesday, March 18th. Two 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 data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.