Highbridge Capital Management LLC Purchases Shares of 1,537,989 Lucid Group, Inc. $LCID

Highbridge Capital Management LLC acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,537,989 shares of the company’s stock, valued at approximately $3,245,000. Highbridge Capital Management LLC owned approximately 0.05% of Lucid Group at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Lucid Group during the 1st quarter valued at $8,226,000. Goldman Sachs Group Inc. lifted its position 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 valued at $13,166,000 after acquiring an additional 2,874,603 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lucid Group by 7.4% during the second quarter. Geode Capital Management LLC now owns 22,642,839 shares of the company’s stock valued at $47,784,000 after acquiring an additional 1,554,419 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Lucid Group by 417.3% during the second quarter. SG Americas Securities LLC now owns 1,328,819 shares of the company’s stock valued at $2,804,000 after acquiring an additional 1,071,950 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in Lucid Group during the 1st quarter worth about $1,583,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LCID has been the topic of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a research note on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Lucid Group to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $24.04.

Lucid Group Price Performance

LCID opened at $11.73 on Friday. Lucid Group, Inc. has a 1 year low of $11.70 and a 1 year high of $36.40. The company’s 50 day simple moving average is $19.47 and its 200 day simple moving average is $21.89. The stock has a market capitalization of $3.80 billion, a PE ratio of -1.10 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81.

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

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.