Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Lucid Group, Inc. (NASDAQ:LCIDFree Report) by 48.4% during the third quarter, Holdings Channel reports. The firm owned 1,292,058 shares of the company’s stock after acquiring an additional 421,281 shares during the quarter. Victory Capital Management Inc.’s holdings in Lucid Group were worth $7,223,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1832 Asset Management L.P. acquired a new stake in shares of Lucid Group during the first quarter worth about $25,000. First Manhattan Co. increased its position in shares of Lucid Group by 666.7% during the first quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Quent Capital LLC increased its position in shares of Lucid Group by 184.6% during the third quarter. Quent Capital LLC now owns 4,482 shares of the company’s stock worth $25,000 after purchasing an additional 2,907 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Lucid Group by 283.3% during the second quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock worth $34,000 after purchasing an additional 3,671 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel increased its position in shares of Lucid Group by 84.0% during the second quarter. Psagot Value Holdings Ltd. Israel now owns 5,251 shares of the company’s stock worth $36,000 after purchasing an additional 2,397 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LCID shares. R. F. Lafferty lowered Lucid Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $10.00 to $5.00 in a report on Wednesday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $6.00 price target on shares of Lucid Group in a report on Friday, January 12th. Stifel Nicolaus started coverage on Lucid Group in a report on Thursday, December 7th. They set a “hold” rating and a $5.00 price target on the stock. Needham & Company LLC lowered Lucid Group from a “buy” rating to a “hold” rating in a report on Monday, November 27th. Finally, Morgan Stanley lowered their price target on Lucid Group from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.85.

View Our Latest Stock Report on Lucid Group

Lucid Group Price Performance

Shares of LCID opened at $3.50 on Wednesday. Lucid Group, Inc. has a twelve month low of $2.54 and a twelve month high of $12.15. The stock’s 50 day moving average is $3.82 and its two-hundred day moving average is $4.88. The firm has a market capitalization of $8.01 billion, a PE ratio of -2.52 and a beta of 1.07. The company has a current ratio of 5.19, a quick ratio of 4.42 and a debt-to-equity ratio of 0.38.

Lucid Group (NASDAQ:LCIDGet Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Lucid Group had a negative net margin of 380.45% and a negative return on equity of 58.91%. The business had revenue of $137.81 million during the quarter, compared to analysts’ expectations of $185.10 million. During the same period in the prior year, the firm posted ($0.40) EPS. Lucid Group’s revenue for the quarter was down 29.5% compared to the same quarter last year. Research analysts anticipate that Lucid Group, Inc. will post -1.41 earnings per share for the current year.

Lucid Group Company Profile

(Free Report)

Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.

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

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