Zurcher Kantonalbank Zurich Cantonalbank Has $5.54 Million Position in Lucid Group, Inc. (NASDAQ:LCID)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 138.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,316,946 shares of the company's stock after buying an additional 764,361 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Lucid Group worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Waldron Private Wealth LLC acquired a new stake in shares of Lucid Group in the fourth quarter valued at $72,000. Vontobel Holding Ltd. boosted its holdings in Lucid Group by 157.6% in the fourth quarter. Vontobel Holding Ltd. now owns 413,706 shares of the company's stock valued at $1,742,000 after purchasing an additional 253,121 shares during the period. Capital Square LLC boosted its holdings in Lucid Group by 34.7% in the fourth quarter. Capital Square LLC now owns 18,615 shares of the company's stock valued at $78,000 after purchasing an additional 4,800 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Lucid Group in the fourth quarter valued at $78,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Lucid Group by 10.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company's stock valued at $48,109,000 after purchasing an additional 1,060,588 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LCID. Morgan Stanley reiterated an "underweight" rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Robert W. Baird decreased their price target on Lucid Group from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Thursday, February 22nd. Bank of America decreased their price target on Lucid Group from $7.00 to $4.50 and set a "neutral" rating for the company in a report on Thursday, February 22nd. Citigroup reissued a "neutral" rating and issued a $2.90 target price on shares of Lucid Group in a report on Monday. Finally, Stifel Nicolaus reduced their target price on Lucid Group from $5.00 to $4.00 and set a "hold" rating for the company in a report on Monday, February 26th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $4.34.

Lucid Group Stock Performance

NASDAQ LCID traded down $0.07 on Monday, hitting $2.38. 20,256,160 shares of the company's stock were exchanged, compared to its average volume of 34,539,844. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. The firm's 50-day moving average price is $2.96 and its two-hundred day moving average price is $3.68. Lucid Group, Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $8.37. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of -1.69 and a beta of 1.01.

Lucid Group (NASDAQ:LCID - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The business had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business's revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. On average, research analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current 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.