Vanguard Personalized Indexing Management LLC Decreases Holdings in Lucid Group, Inc. $LCID

Vanguard Personalized Indexing Management LLC reduced its position in Lucid Group, Inc. (NASDAQ:LCID) by 91.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,549 shares of the company’s stock after selling 168,081 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Lucid Group were worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its position in shares of Lucid Group by 11.1% in the second quarter. Rockefeller Capital Management L.P. now owns 340,533 shares of the company’s stock valued at $719,000 after buying an additional 34,116 shares in the last quarter. HBK Investments L P acquired a new stake in Lucid Group in the 2nd quarter valued at about $2,658,000. Highbridge Capital Management LLC purchased a new position in Lucid Group during the 2nd quarter valued at about $3,245,000. Y Intercept Hong Kong Ltd acquired a new position in Lucid Group during the third quarter worth about $2,248,000. Finally, Marex Group plc purchased a new stake in shares of Lucid Group in the second quarter valued at about $7,613,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Trading Up 14.0%

Shares of LCID stock opened at $10.86 on Friday. The firm’s 50-day simple moving average is $11.43 and its 200-day simple moving average is $17.22. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. Lucid Group, Inc. has a 1-year low of $9.50 and a 1-year high of $35.90. The firm has a market cap of $3.52 billion, a P/E ratio of -1.01 and a beta of 1.16.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($2.65) EPS for the quarter, missing the consensus estimate of ($2.32) by ($0.33). The company had revenue of $336.58 million for the quarter, compared to analyst estimates 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 last year, the company posted ($2.76) EPS. As a group, equities analysts forecast that Lucid Group, Inc. will post -1.25 EPS for the current year.

Wall Street Analyst Weigh In

LCID has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a research note on Wednesday, November 19th. Royal Bank Of Canada dropped their price target on Lucid Group from $20.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Morgan Stanley downgraded Lucid Group from a “buy” rating to an “underweight” rating and reduced their price objective for the company from $30.00 to $10.00 in a research report on Monday, December 8th. Robert W. Baird set a $14.00 price objective on Lucid Group in a research note on Tuesday, January 6th. Finally, Stifel Nicolaus cut their target price on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 17th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $18.92.

Lucid Group Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.