Vanguard Group Inc. Purchases 615,108 Shares of Lucid Group, Inc. $LCID

Vanguard Group Inc. boosted its holdings in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,933,835 shares of the company's stock after buying an additional 615,108 shares during the period. Vanguard Group Inc. owned approximately 3.66% of Lucid Group worth $268,460,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Public Investment Fund lifted its holdings in Lucid Group by 28.8% in the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock valued at $5,348,084,000 after buying an additional 396,188,386 shares during the period. Two Sigma Investments LP increased its position in shares of Lucid Group by 4,320.7% during the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company's stock worth $47,873,000 after acquiring an additional 15,493,320 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Lucid Group during the fourth quarter worth $34,123,000. First Trust Advisors LP grew its position in Lucid Group by 51.7% in the fourth quarter. First Trust Advisors LP now owns 10,261,050 shares of the company's stock valued at $30,988,000 after purchasing an additional 3,495,392 shares in the last quarter. Finally, Northern Trust Corp grew its position in Lucid Group by 35.8% in the fourth quarter. Northern Trust Corp now owns 5,416,585 shares of the company's stock valued at $16,358,000 after purchasing an additional 1,426,625 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Performance

NASDAQ:LCID remained flat at $2.09 during mid-day trading on Thursday. 51,074,131 shares of the company were exchanged, compared to its average volume of 80,979,432. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of -1.82 and a beta of 0.79. The business's 50 day moving average is $2.35 and its two-hundred day moving average is $2.44. The company has a quick ratio of 2.11, a current ratio of 2.58 and a debt-to-equity ratio of 0.92.

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

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reiterated a "neutral" rating and issued a $3.00 price target on shares of Lucid Group in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.