Mirae Asset Global Investments Co. Ltd. Has $27.25 Million Position in Lucid Group, Inc. (NASDAQ:LCID)

Mirae Asset Global Investments Co. Ltd. increased its position in Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 28.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,072,961 shares of the company’s stock after buying an additional 235,827 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Lucid Group worth $27,254,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Lucid Group by 36.7% during the first quarter. Vanguard Group Inc. now owns 38,737,522 shares of the company’s stock valued at $983,933,000 after purchasing an additional 10,400,923 shares during the last quarter. State Street Corp grew its holdings in Lucid Group by 210.2% during the fourth quarter. State Street Corp now owns 5,296,607 shares of the company’s stock valued at $201,536,000 after purchasing an additional 3,589,007 shares during the last quarter. BlackRock Inc. grew its holdings in Lucid Group by 23.7% during the first quarter. BlackRock Inc. now owns 15,623,711 shares of the company’s stock valued at $396,842,000 after purchasing an additional 2,990,659 shares during the last quarter. Coatue Management LLC acquired a new position in Lucid Group during the first quarter valued at approximately $75,419,000. Finally, Renaissance Technologies LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $70,183,000. Institutional investors and hedge funds own 70.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on LCID shares. Needham & Company LLC started coverage on Lucid Group in a report on Wednesday. They set an “underperform” rating on the stock. R. F. Lafferty initiated coverage on Lucid Group in a research report on Monday, September 12th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Citigroup reissued a “buy” rating and issued a $28.00 price objective on shares of Lucid Group in a research report on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of 30.86.

Lucid Group Stock Down 1.9 %

Shares of NASDAQ LCID opened at 16.18 on Friday. The stock has a market cap of $27.07 billion, a PE ratio of -11.16 and a beta of 0.57. The business has a fifty day moving average of 17.70 and a two-hundred day moving average of 19.42. Lucid Group, Inc. has a 52-week low of 13.25 and a 52-week high of 57.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 6.75 and a current ratio of 7.59.

Lucid Group (NASDAQ:LCIDGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported -0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of -0.44 by 0.11. The company had revenue of 97.34 million during the quarter. Lucid Group had a negative return on equity of 34.45% and a negative net margin of 1,030.53%. As a group, equities research analysts expect that Lucid Group, Inc. will post -1.08 earnings per share for the current fiscal year.

Lucid Group Profile

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

See Also

Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

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