Vanguard Group Inc. Has $268.46 Million Holdings in Lucid Group, Inc. $LCID

Vanguard Group Inc. boosted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,933,835 shares of the company’s stock after acquiring an additional 615,108 shares during the quarter. Vanguard Group Inc. owned 3.66% of Lucid Group worth $268,460,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Blair William & Co. IL boosted its position in Lucid Group by 50.5% during the 1st quarter. Blair William & Co. IL now owns 16,036 shares of the company’s stock worth $39,000 after acquiring an additional 5,379 shares during the period. Bank of Nova Scotia boosted its position in Lucid Group by 74.1% during the 1st quarter. Bank of Nova Scotia now owns 27,116 shares of the company’s stock worth $66,000 after acquiring an additional 11,542 shares during the period. US Bancorp DE boosted its position in Lucid Group by 97.0% during the 1st quarter. US Bancorp DE now owns 19,374 shares of the company’s stock worth $47,000 after acquiring an additional 9,539 shares during the period. NorthRock Partners LLC acquired a new stake in Lucid Group during the 1st quarter worth about $59,000. Finally, Federated Hermes Inc. boosted its position in Lucid Group by 36.4% during the 1st quarter. Federated Hermes Inc. now owns 42,855 shares of the company’s stock worth $104,000 after acquiring an additional 11,445 shares during the period. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Down 3.1%

Shares of LCID stock opened at $2.18 on Monday. The stock’s 50 day simple moving average is $2.35 and its 200 day simple moving average is $2.46. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.11 and a current ratio of 2.58. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of -1.90 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

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

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.