abrdn plc Boosts Holdings in Lucid Group, Inc. (NASDAQ:LCID)

abrdn plc grew its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 95.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,001,372 shares of the company's stock after buying an additional 976,351 shares during the quarter. abrdn plc owned 0.09% of Lucid Group worth $8,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Lucid Group by 19.8% in the third quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company's stock valued at $18,453,000 after buying an additional 546,676 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lucid Group by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company's stock worth $23,562,000 after purchasing an additional 410,025 shares in the last quarter. Fulton Bank N.A. grew its stake in Lucid Group by 46.5% during the 4th quarter. Fulton Bank N.A. now owns 63,511 shares of the company's stock worth $267,000 after purchasing an additional 20,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Lucid Group by 10.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company's stock worth $48,109,000 after purchasing an additional 1,060,588 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Lucid Group by 41.8% during the 3rd quarter. Invesco Ltd. now owns 5,986,732 shares of the company's stock worth $33,466,000 after purchasing an additional 1,763,443 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of Lucid Group stock traded up $0.01 on Friday, hitting $2.46. The stock had a trading volume of 13,041,757 shares, compared to its average volume of 18,608,388. Lucid Group, Inc. has a 52-week low of $2.29 and a 52-week high of $8.37. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -1.76 and a beta of 1.01. The company's 50 day moving average price is $2.85 and its 200 day moving average price is $3.59.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America lowered their target price on Lucid Group from $7.00 to $4.50 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. Robert W. Baird lowered their target price on Lucid Group from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. Stifel Nicolaus lowered their target price on Lucid Group from $5.00 to $4.00 and set a "hold" rating for the company in a research note on Monday, February 26th. Citigroup reaffirmed a "neutral" rating and set a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat, Lucid Group presently has an average rating of "Hold" and an average target price of $4.34.

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.