Northern Trust Corp Has $16.36 Million Stake in Lucid Group, Inc. (NASDAQ:LCID)

Northern Trust Corp increased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,416,585 shares of the company's stock after acquiring an additional 1,426,625 shares during the quarter. Northern Trust Corp owned approximately 0.18% of Lucid Group worth $16,358,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Lucid Group during the fourth quarter valued at approximately $780,000. XTX Topco Ltd grew its stake in Lucid Group by 395.7% during the 4th quarter. XTX Topco Ltd now owns 849,140 shares of the company's stock worth $2,564,000 after buying an additional 677,846 shares during the last quarter. Norges Bank acquired a new stake in Lucid Group in the fourth quarter worth $9,446,000. Nisa Investment Advisors LLC lifted its stake in Lucid Group by 4,301.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock valued at $771,000 after buying an additional 249,500 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 12,803,987 shares during the period. Institutional investors own 75.17% of the company's stock.

Lucid Group Price Performance

LCID stock traded up $0.15 on Friday, hitting $2.84. 122,015,751 shares of the company's stock traded hands, compared to its average volume of 67,673,808. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of -2.12 and a beta of 0.88. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $2.41 and a 200-day moving average of $2.55.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. Lucid Group's revenue was up 36.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS. On average, analysts forecast that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. TD Cowen initiated coverage on shares of Lucid Group in a research note on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Robert W. Baird boosted 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 reissued a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Finally, Redburn Atlantic downgraded Lucid Group from a "neutral" rating to a "sell" rating and cut their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Lucid Group currently has a consensus rating of "Hold" and an average 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.