Mirae Asset Global Investments Co. Ltd. Has $455,000 Stock Holdings in Lucid Group, Inc. $LCID

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 90.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,125 shares of the company’s stock after selling 190,281 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lucid Group were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Lucid Group by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,642,839 shares of the company’s stock worth $47,784,000 after acquiring an additional 1,554,419 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Lucid Group by 2,398.5% during the second quarter. Marshall Wace LLP now owns 12,652,537 shares of the company’s stock valued at $26,697,000 after acquiring an additional 12,146,136 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lucid Group by 39.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock worth $25,973,000 after purchasing an additional 3,465,542 shares during the period. Norges Bank bought a new stake in shares of Lucid Group in the second quarter worth $16,469,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Lucid Group by 112.0% in the first quarter. Goldman Sachs Group Inc. now owns 5,440,620 shares of the company’s stock worth $13,166,000 after purchasing an additional 2,874,603 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analysts Set New Price Targets

LCID has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a research report on Monday, December 29th. Robert W. Baird set a $14.00 price target on Lucid Group in a research note on Tuesday, January 6th. Stifel Nicolaus cut their price objective on Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 17th. Morgan Stanley cut Lucid Group from a “buy” rating to an “underweight” rating and reduced their target price for the company from $30.00 to $10.00 in a report on Monday, December 8th. Finally, Royal Bank Of Canada decreased their target price on shares of Lucid Group from $20.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Lucid Group currently has a consensus rating of “Reduce” and an average target price of $18.92.

Lucid Group Stock Down 8.2%

Shares of NASDAQ:LCID opened at $9.53 on Friday. Lucid Group, Inc. has a 1 year low of $9.50 and a 1 year high of $35.90. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. The business’s 50-day moving average is $11.49 and its 200-day moving average is $17.36. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -0.89 and a beta of 1.16.

Lucid Group (NASDAQ:LCID) last released its earnings results on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing the consensus estimate of ($2.32) by ($0.33). Lucid Group had a negative return on equity of 85.13% and a negative net margin of 224.99%.The business had revenue of $336.58 million for the quarter, compared to analyst estimates of $378.44 million. During the same period in the prior year, the business earned ($2.76) EPS. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. Equities research analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Lucid Group Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.