Lucid Group, Inc. (NASDAQ:LCID) Shares Purchased by KBC Group NV

KBC Group NV boosted its stake in Lucid Group, Inc. (NASDAQ:LCID) by 113.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,391 shares of the company’s stock after acquiring an additional 30,976 shares during the quarter. KBC Group NV’s holdings in Lucid Group were worth $176,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in Lucid Group during the second quarter valued at approximately $26,000. Wedge Capital Management L L P NC acquired a new position in shares of Lucid Group during the fourth quarter worth approximately $33,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Lucid Group during the fourth quarter valued at about $34,000. Atlas Private Wealth Advisors acquired a new stake in Lucid Group in the fourth quarter worth about $35,000. Finally, GAMMA Investing LLC raised its position in shares of Lucid Group by 73.7% during the 4th quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after buying an additional 5,031 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of LCID opened at $2.91 on Thursday. The company’s 50 day moving average price is $2.80 and its 200 day moving average price is $3.00. The company has a market capitalization of $8.76 billion, a PE ratio of -2.17 and a beta of 0.93. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $200.04 million for the quarter, compared to analyst estimates of $199.50 million. During the same quarter last year, the company earned ($0.28) EPS. Research analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LCID. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada lowered their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. Cfra set a $2.00 price target on Lucid Group in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.04.

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.