Lucid Group, Inc. $LCID Holdings Increased by Swiss National Bank

Key Points

• The Swiss National Bank increased its stake in Lucid Group by 26.9%, owning approximately 2.3 million shares valued at $5.6 million after acquiring an additional 495,000 shares in the first quarter.
• Currently, 75.17% of Lucid Group's stock is held by institutional investors, with significant recent increases in holdings from entities like the Public Investment Fund and Two Sigma Investments.
• Lucid Group's stock trades at approximately $2.13, with a consensus rating of "Hold" and a price target averaging at $2.68 from analysts, following their latest earnings report that showed a revenue miss.

Swiss National Bank raised its stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,334,000 shares of the company's stock after acquiring an additional 495,000 shares during the quarter. Swiss National Bank owned approximately 0.08% of Lucid Group worth $5,648,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LCID. Public Investment Fund boosted its stake in Lucid Group by 28.8% during the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after acquiring an additional 396,188,386 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Lucid Group by 4,320.7% in the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after buying an additional 15,493,320 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Lucid Group in the 4th quarter worth about $34,123,000. First Trust Advisors LP lifted its position in shares of Lucid Group by 51.7% in the 4th quarter. First Trust Advisors LP now owns 10,261,050 shares of the company's stock worth $30,988,000 after buying an additional 3,495,392 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Lucid Group in the 4th quarter worth about $6,852,000. 75.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.68.

Lucid Group Stock Performance

Shares of Lucid Group stock traded down $0.06 during trading hours on Friday, reaching $2.03. The company's stock had a trading volume of 144,068,402 shares, compared to its average volume of 78,916,176. The stock has a market cap of $6.24 billion, a P/E ratio of -1.77 and a beta of 0.79. The company's 50 day simple moving average is $2.35 and its 200 day simple moving average is $2.44. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.11 and a current ratio of 2.58.

Lucid Group's stock is set to reverse split on the morning of Tuesday, September 2nd. The 1-10 reverse split was announced on Thursday, August 21st. The number of shares owned by shareholders will be adjusted after the market closes on Friday, August 29th.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $259.43 million during the quarter, compared to the consensus estimate of $288.10 million. Lucid Group had a negative net margin of 259.57% and a negative return on equity of 79.40%. The company's revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal 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.