Lucid Group, Inc. (NASDAQ:LCID) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 23.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,612,631 shares of the company's stock after buying an additional 504,171 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.09% of Lucid Group worth $7,890,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LCID. SG Americas Securities LLC lifted its position in Lucid Group by 3.4% in the fourth quarter. SG Americas Securities LLC now owns 157,160 shares of the company's stock valued at $475,000 after buying an additional 5,121 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Lucid Group during the fourth quarter worth about $34,000. KBC Group NV increased its stake in Lucid Group by 113.0% during the fourth quarter. KBC Group NV now owns 58,391 shares of the company's stock worth $176,000 after purchasing an additional 30,976 shares during the period. Yousif Capital Management LLC purchased a new stake in Lucid Group during the fourth quarter worth about $32,000. Finally, Stratos Wealth Partners LTD. increased its stake in Lucid Group by 46.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,706 shares of the company's stock worth $63,000 after purchasing an additional 6,577 shares during the period. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Stock Down 4.5%

Shares of NASDAQ:LCID traded down $0.10 during trading on Thursday, hitting $2.13. 252,749,207 shares of the company were exchanged, compared to its average volume of 75,281,300. The stock has a market capitalization of $6.50 billion, a P/E ratio of -1.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The firm's 50 day moving average price is $2.47 and its 200-day moving average price is $2.58.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its earnings results 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). The business had revenue of $235.05 million for the quarter, compared to analysts' expectations of $250.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business's 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, research analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of recent research reports. Bank of America lowered shares of Lucid Group from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th. Robert W. Baird boosted their price target on shares of Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Stifel Nicolaus cut their price target on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Benchmark reiterated a "buy" rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research note on Wednesday, May 7th. 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $2.68.

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.