Teacher Retirement System of Texas Acquires Shares of 174,556 Lucid Group, Inc. (NASDAQ:LCID)

Teacher Retirement System of Texas bought a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 174,556 shares of the company’s stock, valued at approximately $422,000.

A number of other large investors have also recently modified their holdings of the stock. Public Investment Fund increased its holdings in Lucid Group by 28.8% during the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock valued at $5,348,084,000 after buying an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. increased its stake in Lucid Group by 31.1% in the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after buying an additional 26,172,852 shares during the period. Geode Capital Management LLC grew its holdings in Lucid Group by 31.4% during the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock worth $61,214,000 after acquiring an additional 4,844,782 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock valued at $49,950,000 after buying an additional 12,803,987 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of Lucid Group by 4,320.7% in the 4th quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock valued at $47,873,000 after buying an additional 15,493,320 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Lucid Group Trading Up 36.2%

Lucid Group stock opened at $3.12 on Friday. The company has a current ratio of 3.32, a quick ratio of 2.97 and a debt-to-equity ratio of 0.65. The stock has a market cap of $9.52 billion, a PE ratio of -2.58 and a beta of 0.78. The stock has a 50-day moving average price of $2.35 and a 200 day moving average price of $2.52. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 business had revenue of $235.05 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter last year, the firm earned ($0.27) EPS. The firm’s quarterly revenue was up 36.1% compared to the same quarter last year. Equities research analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LCID. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Wednesday, May 7th. Robert W. Baird lifted their target price on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lucid Group presently has a consensus rating of “Hold” and a consensus target price of $2.68.

About Lucid Group

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.