Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Lucid Group, Inc. (NASDAQ:LCIDFree Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 814,725 shares of the company’s stock after buying an additional 38,113 shares during the quarter. Rhumbline Advisers’ holdings in Lucid Group were worth $1,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Accredited Investors Inc. acquired a new position in shares of Lucid Group during the fourth quarter worth $30,000. Proficio Capital Partners LLC purchased a new stake in Lucid Group during the fourth quarter valued at about $31,000. DRW Securities LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth approximately $31,000. Yousif Capital Management LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth approximately $32,000. Finally, Citizens Financial Group Inc. RI bought a new position in Lucid Group during the fourth quarter valued at approximately $32,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Price Performance

LCID stock opened at $2.15 on Wednesday. The stock’s fifty day simple moving average is $2.43 and its two-hundred day simple moving average is $2.59. The company has a current ratio of 3.32, a quick ratio of 2.97 and a debt-to-equity ratio of 0.65. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The stock has a market cap of $6.56 billion, a P/E ratio of -1.78 and a beta of 0.81.

Lucid Group (NASDAQ:LCIDGet Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative net margin of 275.73% and a negative return on equity of 68.64%. The firm had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. During the same period in the prior year, the company earned ($0.27) EPS. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. Analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus lowered their price target on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Cowen began coverage on shares of Lucid Group in a research report on Thursday, March 6th. They set a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Finally, Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Lucid Group has an average rating of “Hold” and an average target price of $2.68.

Get Our Latest Research Report on Lucid Group

About Lucid Group

(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.

Further Reading

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

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