Commonwealth Equity Services LLC Raises Position in Lucid Group, Inc. (NASDAQ:LCID)

Commonwealth Equity Services LLC increased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID – Get Rating) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,819 shares of the company’s stock after purchasing an additional 8,393 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lucid Group were worth $989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Lucid Group by 36.7% in the first quarter. Vanguard Group Inc. now owns 38,737,522 shares of the company’s stock worth $983,933,000 after acquiring an additional 10,400,923 shares in the last quarter. First Trust Advisors LP lifted its position in Lucid Group by 888.1% during the third quarter. First Trust Advisors LP now owns 6,821,535 shares of the company’s stock valued at $95,297,000 after buying an additional 6,131,163 shares in the last quarter. State Street Corp lifted its stake in shares of Lucid Group by 80.9% during the second quarter. State Street Corp now owns 10,822,778 shares of the company’s stock worth $185,719,000 after purchasing an additional 4,841,301 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Lucid Group by 23.7% during the first quarter. BlackRock Inc. now owns 15,623,711 shares of the company’s stock worth $396,842,000 after purchasing an additional 2,990,659 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its stake in shares of Lucid Group by 101.1% during the second quarter. Nomura Holdings Inc. now owns 18,159 shares of the company’s stock worth $309,000 after purchasing an additional 1,699,534 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on LCID shares. Morgan Stanley reduced their target price on shares of Lucid Group from $10.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 25th. Cantor Fitzgerald cut their price target on Lucid Group from $13.00 to $10.00 in a report on Tuesday, May 9th. Needham & Company LLC cut their price objective on shares of Lucid Group from $16.00 to $10.00 in a research note on Tuesday, May 9th. BNP Paribas cut Lucid Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 23rd. Finally, Bank of America dropped their target price on Lucid Group from $10.00 to $8.00 in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.79.

Lucid Group Price Performance

Shares of LCID stock opened at $7.65 on Tuesday. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of -5.31 and a beta of 1.11. Lucid Group, Inc. has a one year low of $6.09 and a one year high of $21.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.06 and a quick ratio of 3.06. The stock’s fifty day simple moving average is $7.61 and its 200 day simple moving average is $8.70.

Lucid Group (NASDAQ:LCID – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Lucid Group had a negative return on equity of 59.10% and a negative net margin of 286.13%. The company had revenue of $257.71 million for the quarter, compared to analyst estimates of $289.80 million. On average, analysts expect that Lucid Group, Inc. will post -1.57 earnings per share for the current fiscal year.

Lucid Group Company 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.