Lucid Group, Inc. (NASDAQ:LCID) Position Increased by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 36.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,855 shares of the company’s stock after acquiring an additional 11,445 shares during the period. Federated Hermes Inc.’s holdings in Lucid Group were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Investment Fund raised 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 in the last quarter. Geode Capital Management LLC raised its holdings in Lucid Group by 31.4% during the fourth quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock valued at $61,214,000 after buying an additional 4,844,782 shares in the last quarter. Two Sigma Investments LP raised its holdings in Lucid Group by 4,320.7% during the fourth 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. Two Sigma Advisers LP bought a new position in Lucid Group during the fourth quarter valued at about $34,123,000. Finally, First Trust Advisors LP raised its holdings in Lucid Group by 51.7% during the fourth quarter. First Trust Advisors LP now owns 10,261,050 shares of the company’s stock valued at $30,988,000 after buying an additional 3,495,392 shares in the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LCID has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a report on Wednesday, May 7th. Robert W. Baird raised their target price on Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average price target of $2.68.

Lucid Group Trading Down 1.8%

Shares of LCID opened at $2.13 on Monday. The stock has a market cap of $6.50 billion, a PE ratio of -1.85 and a beta of 0.79. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The stock has a 50 day simple moving average of $2.35 and a 200-day simple moving average of $2.47. The company has a current ratio of 2.58, a quick ratio of 2.11 and a debt-to-equity ratio of 0.92.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $259.43 million for the quarter, compared to the consensus estimate of $288.10 million. Lucid Group had a negative return on equity of 79.40% and a negative net margin of 259.57%. The firm’s revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) earnings per share. On average, sell-side analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Lucid Group Profile

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.