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

Vontobel Holding Ltd. boosted its position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 119.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 532,459 shares of the company's stock after acquiring an additional 289,880 shares during the period. Vontobel Holding Ltd.'s holdings in Lucid Group were worth $1,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LCID. Sterling Investment Counsel LLC bought a new stake in Lucid Group in the 1st quarter valued at $25,000. Grimes & Company Inc. bought a new stake in Lucid Group in the 1st quarter valued at $27,000. Accredited Investors Inc. bought a new stake in Lucid Group in the 4th quarter valued at $30,000. Proficio Capital Partners LLC bought a new stake in Lucid Group in the 4th quarter valued at $31,000. Finally, DRW Securities LLC bought a new stake in Lucid Group in the 4th quarter valued at $31,000. 75.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LCID has been the topic of several analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a report on Wednesday, May 7th. Robert W. Baird upped their target price on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Finally, Morgan Stanley raised shares of 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $2.68.

Lucid Group Trading Up 9.0%

Shares of LCID stock traded up $0.19 on Tuesday, reaching $2.30. The company had a trading volume of 215,459,554 shares, compared to its average volume of 85,125,963. The company has a current ratio of 3.32, a quick ratio of 2.97 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.02 billion, a PE ratio of -1.90 and a beta of 0.78. The company has a 50-day moving average of $2.35 and a 200-day moving average of $2.56. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43.

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

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.