Ballentine Partners LLC Purchases 17,405 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Ballentine Partners LLC boosted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 154.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,693 shares of the company’s stock after acquiring an additional 17,405 shares during the period. Ballentine Partners LLC’s holdings in Lucid Group were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LCID. Vanguard Group Inc. lifted its holdings in shares of Lucid Group by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after purchasing an additional 9,175,312 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Lucid Group by 10.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after acquiring an additional 1,060,588 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Lucid Group by 41.8% during the third quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock worth $33,466,000 after acquiring an additional 1,763,443 shares during the period. Norges Bank bought a new stake in Lucid Group in the 4th quarter valued at $22,208,000. Finally, Northern Trust Corp boosted its stake in Lucid Group by 13.8% in the 3rd quarter. Northern Trust Corp now owns 5,203,969 shares of the company’s stock worth $29,090,000 after purchasing an additional 631,728 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Trading Up 2.7 %

Shares of LCID stock opened at $2.67 on Friday. The firm has a market capitalization of $6.16 billion, a P/E ratio of -2.10 and a beta of 1.06. The company has a quick ratio of 4.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $2.69 and its 200 day simple moving average is $3.10. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $8.37.

Lucid Group (NASDAQ:LCID) last released its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The firm had revenue of $172.74 million for the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 441.29% and a negative return on equity of 53.53%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) EPS. As a group, sell-side analysts predict that Lucid Group, Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Tuesday, May 7th. Citigroup restated a “neutral” rating and set a $2.90 target price on shares of Lucid Group in a report on Monday, April 22nd. Finally, Stifel Nicolaus cut their price target on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.24.

Lucid Group 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.