Lucid Group, Inc. (NASDAQ:LCID) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 4,301.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,300 shares of the company's stock after buying an additional 249,500 shares during the quarter. Nisa Investment Advisors LLC's holdings in Lucid Group were worth $771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Italy S.r.l. acquired a new position in Lucid Group in the 3rd quarter worth about $3,209,000. Main Management ETF Advisors LLC acquired a new position in Lucid Group in the 3rd quarter worth about $863,000. Charles Schwab Investment Management Inc. raised its holdings in Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company's stock worth $17,991,000 after purchasing an additional 2,335,452 shares during the period. CWM LLC raised its holdings in Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company's stock worth $121,000 after purchasing an additional 6,771 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Lucid Group by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company's stock worth $930,000 after purchasing an additional 6,374 shares during the period. Institutional investors and hedge funds own 75.17% of the company's stock.

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Lucid Group Stock Up 1.5 %

Shares of NASDAQ LCID traded up $0.04 during mid-day trading on Friday, hitting $2.76. The company had a trading volume of 80,126,330 shares, compared to its average volume of 75,600,592. The company has a market capitalization of $8.31 billion, a PE ratio of -2.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The business's 50-day simple moving average is $2.75 and its 200 day simple moving average is $3.01.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.09). The business had revenue of $200.04 million for the quarter, compared to analysts' expectations of $199.50 million. Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. During the same period last year, the firm earned ($0.28) earnings per share. On average, analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LCID has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their target price on Lucid Group from $3.00 to $2.00 and set a "sector perform" rating for the company in a report on Tuesday, November 19th. Robert W. Baird reissued a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a report on Monday, October 7th. Cantor Fitzgerald reissued a "neutral" rating and set a $3.00 target price on shares of Lucid Group in a report on Tuesday, January 7th. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 target price for the company in a report on Monday, November 11th. Finally, Cfra set a $2.00 price target on Lucid Group in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Lucid Group presently has an average rating of "Hold" and a consensus target price 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.