Lucid Group, Inc. (NASDAQ:LCID) Stock Position Increased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP lifted its stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 222.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,064 shares of the company's stock after buying an additional 109,685 shares during the quarter. Brevan Howard Capital Management LP's holdings in Lucid Group were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Investment Fund grew its position in shares of Lucid Group by 28.8% in the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company's stock worth $5,348,084,000 after acquiring an additional 396,188,386 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lucid Group by 31.1% in the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company's stock worth $333,163,000 after purchasing an additional 26,172,852 shares during the period. Geode Capital Management LLC increased its stake in Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company's stock valued at $61,214,000 after purchasing an additional 4,844,782 shares during the last quarter. Renaissance Technologies LLC increased its stake in Lucid Group by 342.7% during the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock valued at $49,950,000 after purchasing an additional 12,803,987 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Lucid Group by 51.7% during the fourth quarter. First Trust Advisors LP now owns 10,261,050 shares of the company's stock worth $30,988,000 after purchasing an additional 3,495,392 shares during the period. Institutional investors own 75.17% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LCID shares. Redburn Atlantic downgraded shares of Lucid Group from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $3.50 to $1.13 in a research report on Monday, February 24th. TD Cowen began coverage on Lucid Group in a report on Friday, March 7th. They set a "hold" rating and a $2.30 target price for the company. Benchmark reiterated a "buy" rating and set a $5.00 price target on shares of Lucid Group in a research report on Friday, March 7th. Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2.68.

Lucid Group Stock Performance

Shares of LCID traded up $0.01 during trading hours on Tuesday, reaching $2.63. 44,950,115 shares of the company's stock traded hands, compared to its average volume of 66,591,650. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The business's fifty day simple moving average is $2.37 and its two-hundred day simple moving average is $2.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -1.96 and a beta of 0.88.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). The company had revenue of $235.05 million for the quarter, compared to the consensus estimate of $250.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The firm's quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. Analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

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.