Quantinno Capital Management LP Raises Position in Lucid Group, Inc. $LCID

Quantinno Capital Management LP increased its stake in Lucid Group, Inc. (NASDAQ:LCID) by 246.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,651 shares of the company’s stock after purchasing an additional 144,089 shares during the quarter. Quantinno Capital Management LP’s holdings in Lucid Group were worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LCID. Brown Advisory Inc. increased its position 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 buying an additional 5,000 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Lucid Group during the 2nd quarter valued at $41,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Lucid Group during the 2nd quarter valued at $59,000. Leonteq Securities AG bought a new position in shares of Lucid Group during the 4th quarter worth $67,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Lucid Group during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Price Performance

Lucid Group stock opened at $6.70 on Wednesday. The firm has a market capitalization of $2.61 billion, a P/E ratio of -0.49 and a beta of 0.83. Lucid Group, Inc. has a one year low of $2.37 and a one year high of $25.23. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.14 and a quick ratio of 0.57. The business has a fifty day moving average price of $6.15 and a 200-day moving average price of $7.82.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. William Blair lowered Lucid Group to a “market perform” rating in a report on Monday, August 3rd. Zacks Research downgraded shares of Lucid Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Lucid Group in a research report on Monday, August 3rd. Robert W. Baird set a $6.00 target price on shares of Lucid Group in a research note on Wednesday, May 6th. Finally, Evercore set a $6.00 price target on shares of Lucid Group in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Lucid Group has an average rating of “Reduce” and a consensus target price of $9.56.

Lucid Group Company 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.