MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $28.28 Million Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,365,271 shares of the company’s stock after selling 404,433 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Lucid Group were worth $28,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Investment Fund lifted its position in shares of Lucid Group by 28.8% during the 4th quarter. Public Investment Fund now owns 1,770,888,684 shares of the company’s stock worth $5,348,084,000 after buying an additional 396,188,386 shares during the last quarter. Vanguard Group Inc. raised its stake in Lucid Group by 31.1% during the fourth quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after acquiring an additional 26,172,852 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Lucid Group by 342.7% in the fourth quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock worth $49,950,000 after acquiring an additional 12,803,987 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Lucid Group by 31.4% in the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock valued at $61,214,000 after purchasing an additional 4,844,782 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Lucid Group by 51.7% during the 4th quarter. First Trust Advisors LP now owns 10,261,050 shares of the company’s stock valued at $30,988,000 after purchasing an additional 3,495,392 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on LCID shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Wednesday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Wednesday, February 26th. Morgan Stanley raised Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective on the stock in a report on Tuesday, March 18th. Bank of America lowered Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Finally, TD Cowen initiated coverage on Lucid Group in a research report on Friday, March 7th. They issued a “hold” rating and a $2.30 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.68.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.76 on Thursday. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of -2.06 and a beta of 0.88. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The stock has a fifty day simple moving average of $2.39 and a 200 day simple moving average of $2.55.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The company had revenue of $235.05 million during the quarter, compared to analyst estimates of $250.50 million. During the same period in the previous year, the company posted ($0.27) EPS. The company’s quarterly revenue was up 36.1% on a year-over-year basis. Sell-side analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current year.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.