US Bancorp DE Raises Position in Lucid Group, Inc. $LCID

US Bancorp DE raised its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 97.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,374 shares of the company’s stock after purchasing an additional 9,539 shares during the period. US Bancorp DE’s holdings in Lucid Group were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LCID. Public Investment Fund raised its holdings in shares of Lucid Group by 28.8% in the fourth quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after buying an additional 396,188,386 shares during the period. Two Sigma Investments LP raised its holdings in shares of Lucid Group by 4,320.7% in the fourth quarter. Two Sigma Investments LP now owns 15,851,907 shares of the company’s stock worth $47,873,000 after buying an additional 15,493,320 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Lucid Group in the fourth quarter worth approximately $34,123,000. First Trust Advisors LP grew its stake in Lucid Group by 51.7% in the fourth quarter. First Trust Advisors LP now owns 10,261,050 shares of the company’s stock worth $30,988,000 after purchasing an additional 3,495,392 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Lucid Group in the fourth quarter worth approximately $6,852,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Stock Down 2.3%

Lucid Group stock opened at $2.13 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.58 and a quick ratio of 2.11. The stock has a market capitalization of $6.54 billion, a price-to-earnings 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 business has a fifty day moving average price of $2.35 and a 200-day moving average price of $2.45.

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

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.68.

Lucid Group Company 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.