Lazard Asset Management LLC Raises Holdings in Lucid Group, Inc. $LCID

Lazard Asset Management LLC lifted its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 192.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 304,737 shares of the company’s stock after acquiring an additional 200,604 shares during the quarter. Lazard Asset Management LLC’s holdings in Lucid Group were worth $2,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its stake in Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock worth $33,000 after acquiring an additional 5,000 shares during the period. Jump Financial LLC bought a new position in Lucid Group during the 2nd quarter worth about $41,000. Worldquant Millennium Advisors LLC purchased a new position in Lucid Group during the 2nd quarter valued at about $59,000. Leonteq Securities AG bought a new stake in shares of Lucid Group in the 4th quarter valued at about $67,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Lucid Group in the 4th quarter valued at about $77,000. 75.17% of the stock is currently owned by institutional investors.

More Lucid Group News

Here are the key news stories impacting Lucid Group this week:

• Positive Sentiment: Saudi billionaire Prince Alwaleed bin Talal’s reported $129.5 million investment and roughly 5% stake continue to provide a vote of confidence in Lucid. The holding has fueled speculation that additional financial or strategic support could help the company stabilize and expand. Lucid stock holds above $7 support: Can Prince Alwaleed’s stake fuel a rebound?
• Positive Sentiment: Lucid reportedly has substantial cash, which reduces immediate liquidity pressure. However, investors remain focused on whether management can convert that cash into stronger vehicle deliveries, revenue and sustainable growth before it is depleted. Should You Buy Lucid Stock Before Aug. 4?
• Neutral Sentiment: Technical traders are watching the stock’s ability to hold support near $7 after its recent volatility. A sustained rebound could attract momentum buyers, while a break below that level may reinforce bearish sentiment. Lucid stock holds above $7 support: Can Prince Alwaleed’s stake fuel a rebound?
• Negative Sentiment: Lucid is declining in sympathy with a broader selloff in EV shares. Rivian’s sharp drop despite a quarterly beat and higher guidance raised concerns about valuation, demand and the difficult operating environment for unprofitable EV manufacturers. Rivian Sinks 8% Despite Q2 Beat and Raised Guidance; Lucid Falls 6%
• Negative Sentiment: Reports highlighting Lucid’s roughly 96% five-year stock decline and renewed bankruptcy speculation are weighing heavily on investor confidence. The company must demonstrate improving execution and financial sustainability to overcome those concerns. Lucid Shares Down 96% In Five Years
• Negative Sentiment: Investors are likely to remain cautious ahead of Lucid’s expected Aug. 4 update, when production, deliveries, cash usage and forward guidance may determine whether the Saudi investment can translate into a durable recovery.

Lucid Group Stock Performance

LCID stock opened at $7.38 on Friday. Lucid Group, Inc. has a one year low of $2.37 and a one year high of $25.30. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -0.56 and a beta of 0.83. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02. The firm has a 50-day simple moving average of $6.04 and a two-hundred day simple moving average of $8.01.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Lucid Group in a research report on Monday, May 4th. TD Cowen reduced their price objective on shares of Lucid Group from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Robert W. Baird set a $6.00 price objective on shares of Lucid Group in a research note on Wednesday, May 6th. Morgan Stanley set a $5.00 target price on Lucid Group in a research report on Wednesday, May 6th. Finally, Citigroup reiterated a “buy” rating and issued a $14.00 price target (down from $17.00) on shares of Lucid Group in a report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lucid Group presently has an average rating of “Reduce” and an average price target of $9.56.

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.