ICICI Prudential Asset Management Co Ltd Has $126,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 17.0% during the first quarter, Holdings Channel reports. The fund 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 Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Brown Advisory Inc. increased its holdings in shares of Lucid Group by 8.1% during the 1st quarter. Brown Advisory Inc. now owns 28,708 shares of the company’s stock worth $729,000 after acquiring an additional 2,150 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Lucid Group by 3.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 160,716 shares of the company’s stock worth $4,082,000 after acquiring an additional 5,446 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Lucid Group during the 1st quarter worth approximately $4,749,000. CIBC Asset Management Inc increased its holdings in shares of Lucid Group by 4.7% during the 1st quarter. CIBC Asset Management Inc now owns 257,682 shares of the company’s stock worth $6,545,000 after acquiring an additional 11,550 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Lucid Group by 3.2% during the 1st quarter. KBC Group NV now owns 25,266 shares of the company’s stock worth $642,000 after acquiring an additional 787 shares during the last quarter. 69.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LCID shares. BNP Paribas started coverage on Lucid Group in a report on Monday, April 11th. They set an “outperform” rating and a $45.00 target price on the stock. Exane BNP Paribas started coverage on Lucid Group in a report on Monday, April 11th. They issued an “outperform” rating on the stock. Finally, Citigroup decreased their price objective on Lucid Group from $36.00 to $28.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lucid Group presently has an average rating of “Moderate Buy” and a consensus target price of 32.83.

Lucid Group Stock Performance

Shares of NASDAQ LCID opened at 18.05 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 7.59 and a quick ratio of 10.80. The stock’s fifty day moving average price is 18.67 and its two-hundred day moving average price is 22.07. Lucid Group, Inc. has a one year low of 13.25 and a one year high of 57.75. 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 (NASDAQ:LCIDGet Rating) last released 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 for 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%. Lucid Group’s revenue for the quarter was up 18334.5% on a year-over-year basis. On average, equities analysts forecast that Lucid Group, Inc. will post -1.4 EPS for the current year.

About Lucid Group

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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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