Van ECK Associates Corp Purchases 227,908 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Van ECK Associates Corp raised its position in shares of Lucid Group, Inc. (NASDAQ:LCIDFree Report) by 34.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 897,379 shares of the company’s stock after acquiring an additional 227,908 shares during the period. Van ECK Associates Corp’s holdings in Lucid Group were worth $2,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of Lucid Group by 5.2% in the third quarter. Legal & General Group Plc now owns 5,096,665 shares of the company’s stock worth $28,492,000 after purchasing an additional 253,149 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Lucid Group by 14.7% in the third quarter. Royal London Asset Management Ltd. now owns 284,476 shares of the company’s stock worth $1,589,000 after purchasing an additional 36,529 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Lucid Group by 67.5% in the third quarter. iA Global Asset Management Inc. now owns 189,431 shares of the company’s stock worth $1,059,000 after purchasing an additional 76,309 shares during the last quarter. Toroso Investments LLC grew its holdings in shares of Lucid Group by 30.4% in the third quarter. Toroso Investments LLC now owns 369,309 shares of the company’s stock worth $2,064,000 after purchasing an additional 86,007 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Lucid Group by 1.0% in the third quarter. Deutsche Bank AG now owns 1,120,594 shares of the company’s stock worth $6,264,000 after purchasing an additional 11,089 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Performance

LCID stock opened at $2.93 on Friday. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of -2.31 and a beta of 1.04. The firm has a 50-day simple moving average of $2.73 and a two-hundred day simple moving average of $3.01. Lucid Group, Inc. has a one year low of $2.29 and a one year high of $8.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.12 and a current ratio of 4.66.

Lucid Group (NASDAQ:LCIDGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The company had revenue of $172.74 million for the quarter, compared to analyst estimates of $173.54 million. During the same quarter last year, the company earned ($0.43) EPS. The business’s revenue was up 15.6% compared to the same quarter last year. On average, equities analysts forecast that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stifel Nicolaus cut their price target on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research note on Monday, April 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Tuesday, May 7th. Finally, Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Monday, July 1st. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.24.

Read Our Latest Stock Analysis on LCID

Lucid Group Profile

(Free Report)

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.

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

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