XTX Topco Ltd Lowers Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Key Points

• XTX Topco Ltd reduced its stake in Lucid Group by 59.5%, now holding 343,727 shares worth $832,000.
• Lucid Group's latest earnings report showed a loss of ($0.24) EPS, missing analysts' expectations, with a revenue of $235.05 million.
• Institutional investors own 75.17% of Lucid Group, indicating strong interest and backing from larger financial entities.

XTX Topco Ltd lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 59.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,727 shares of the company's stock after selling 505,413 shares during the quarter. XTX Topco Ltd's holdings in Lucid Group were worth $832,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LCID. Federated Hermes Inc. increased its holdings in Lucid Group by 36.4% in the 1st quarter. Federated Hermes Inc. now owns 42,855 shares of the company's stock worth $104,000 after buying an additional 11,445 shares during the period. Meeder Advisory Services Inc. increased its holdings in Lucid Group by 78.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 35,185 shares of the company's stock worth $85,000 after buying an additional 15,523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lucid Group by 54.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 258,361 shares of the company's stock worth $625,000 after buying an additional 90,677 shares during the period. HB Wealth Management LLC acquired a new position in Lucid Group in the 1st quarter worth approximately $25,000. Finally, KLP Kapitalforvaltning AS boosted its position in Lucid Group by 28.5% in the 1st quarter. KLP Kapitalforvaltning AS now owns 232,800 shares of the company's stock worth $563,000 after purchasing an additional 51,600 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Price Performance

NASDAQ LCID traded up $0.02 during mid-day trading on Tuesday, hitting $2.43. The stock had a trading volume of 12,529,328 shares, compared to its average volume of 118,741,414. The firm's 50 day moving average is $2.37 and its 200 day moving average is $2.49. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.32 and a quick ratio of 2.97. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of -2.00 and a beta of 0.79.

Lucid Group (NASDAQ:LCID - Get Free Report) last issued 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 company had revenue of $235.05 million during 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 firm's revenue was up 36.1% compared to the same quarter last year. During the same period last year, the business earned ($0.27) earnings per share. Equities research analysts forecast that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on LCID shares. Robert W. Baird upped their price objective on Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Lucid Group presently has an average rating of "Hold" and an average target price 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.