Vontobel Holding Ltd. Has $456,000 Position in Lucid Group, Inc. (NASDAQ:LCID)

Vontobel Holding Ltd. grew its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 39.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,102 shares of the company’s stock after purchasing an additional 36,651 shares during the quarter. Vontobel Holding Ltd.’s holdings in Lucid Group were worth $456,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LCID. Van ECK Associates Corp lifted its stake in shares of Lucid Group by 34.0% in the first quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock valued at $2,558,000 after buying an additional 227,908 shares during the period. Vanguard Group Inc. lifted its stake in shares of Lucid Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after buying an additional 489,187 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Lucid Group by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company’s stock valued at $1,242,000 after buying an additional 23,752 shares during the period. Ballentine Partners LLC lifted its stake in shares of Lucid Group by 154.2% in the first quarter. Ballentine Partners LLC now owns 28,693 shares of the company’s stock valued at $82,000 after buying an additional 17,405 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Lucid Group by 42.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock valued at $6,951,000 after buying an additional 732,463 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.61 on Wednesday. Lucid Group, Inc. has a 1 year low of $2.29 and a 1 year high of $5.31. The firm has a 50 day moving average of $3.52 and a 200-day moving average of $3.10. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $6.02 billion, a P/E ratio of -2.06 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The firm had revenue of $200.58 million during the quarter, compared to the consensus estimate of $190.30 million. During the same quarter last year, the firm posted ($0.40) EPS. The business’s revenue was up 32.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Lucid Group, Inc. will post -1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LCID. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research note on Tuesday, October 8th. Robert W. Baird restated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.54.

Insider Activity at Lucid Group

In related news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 61.26% of the stock is currently owned by company insiders.

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.