ICICI Prudential Asset Management Co Ltd Buys 690 Shares of Lucid Group, Inc. (NASDAQ:LCID)

ICICI Prudential Asset Management Co Ltd raised its stake in shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 17.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,753 shares of the company’s stock after acquiring an additional 690 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Lucid Group were worth $126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Advisory Inc. increased its stake in shares of Lucid Group by 8.1% in the first quarter. Brown Advisory Inc. now owns 28,708 shares of the company’s stock valued at $729,000 after buying an additional 2,150 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Lucid Group by 3.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 160,716 shares of the company’s stock valued at $4,082,000 after buying an additional 5,446 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Lucid Group in the first quarter valued at $4,749,000. CIBC Asset Management Inc increased its stake in shares of Lucid Group by 4.7% in the first quarter. CIBC Asset Management Inc now owns 257,682 shares of the company’s stock valued at $6,545,000 after buying an additional 11,550 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Lucid Group by 3.2% in the first quarter. KBC Group NV now owns 25,266 shares of the company’s stock valued at $642,000 after buying an additional 787 shares in the last quarter. 69.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LCID has been the subject of a number of research reports. Citigroup lowered their target price on Lucid Group from $36.00 to $28.00 in a research note on Thursday. BNP Paribas began coverage on Lucid Group in a research report on Monday, April 11th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Exane BNP Paribas began coverage on Lucid Group in a research report on Monday, April 11th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lucid Group has a consensus rating of “Moderate Buy” and an average price target of 32.83.

Lucid Group Price Performance

Shares of LCID stock opened at 18.05 on Friday. The stock has a 50-day moving average price of 18.67 and a 200 day moving average price of 22.07. The company has a quick ratio of 10.80, a current ratio of 7.59 and a debt-to-equity ratio of 0.54. The firm has a market cap of $30.10 billion, a price-to-earnings ratio of -12.45 and a beta of 0.38. Lucid Group, Inc. has a 12 month low of 13.25 and a 12 month high of 57.75.

Lucid Group (NASDAQ:LCIDGet Rating) last posted its earnings results on Thursday, May 5th. The company reported -0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of -0.30 by 0.25. The company had revenue of 57.70 million during the quarter, compared to analyst estimates of 55.56 million. Lucid Group had a negative return on equity of 34.45% and a negative net margin of 1,030.53%. The firm’s revenue was up 18334.5% compared to the same quarter last year. Research analysts expect that Lucid Group, Inc. will post -1.4 EPS for the current year.

Lucid Group Company Profile

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

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