Vontobel Holding Ltd. Boosts Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Vontobel Holding Ltd. boosted its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 157.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,706 shares of the company’s stock after purchasing an additional 253,121 shares during the quarter. Vontobel Holding Ltd.’s holdings in Lucid Group were worth $1,742,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital Square LLC grew its stake in Lucid Group by 34.7% during the fourth quarter. Capital Square LLC now owns 18,615 shares of the company’s stock valued at $78,000 after acquiring an additional 4,800 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Lucid Group during the fourth quarter valued at about $78,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Lucid Group by 10.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after purchasing an additional 1,060,588 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Lucid Group in the fourth quarter worth about $48,000. Finally, TFB Advisors LLC purchased a new stake in shares of Lucid Group in the fourth quarter worth about $777,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LCID shares. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $6.00 to $4.00 in a research note on Thursday, February 22nd. Robert W. Baird decreased their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Stifel Nicolaus reduced their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Bank of America lowered their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.80.

Lucid Group Trading Up 0.4 %

Shares of NASDAQ LCID opened at $2.45 on Friday. Lucid Group, Inc. has a fifty-two week low of $2.35 and a fifty-two week high of $8.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The company has a market cap of $5.64 billion, a price-to-earnings ratio of -1.75 and a beta of 1.01. The business’s 50 day moving average price is $2.96 and its 200-day moving average price is $3.70.

Lucid Group (NASDAQ:LCID) last released its earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The business had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The business’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.40) EPS. On average, sell-side analysts expect that Lucid Group, Inc. will post -1.06 earnings per share 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.