Marex Group plc Acquires Shares of 3,608,134 Lucid Group, Inc. $LCID

Marex Group plc acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,608,134 shares of the company’s stock, valued at approximately $7,613,000.

A number of other institutional investors have also modified their holdings of LCID. Marshall Wace LLP lifted its position in shares of Lucid Group by 2,398.5% during the second quarter. Marshall Wace LLP now owns 12,652,537 shares of the company’s stock worth $26,697,000 after purchasing an additional 12,146,136 shares during the last quarter. Norges Bank acquired a new stake in Lucid Group during the second quarter valued at approximately $16,469,000. Linden Advisors LP bought a new position in Lucid Group during the 2nd quarter worth approximately $9,885,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lucid Group by 39.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock worth $25,973,000 after acquiring an additional 3,465,542 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Lucid Group in the 1st quarter valued at approximately $8,226,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Down 2.3%

Lucid Group stock opened at $12.54 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81. Lucid Group, Inc. has a one year low of $11.46 and a one year high of $36.40. The company has a 50-day simple moving average of $16.51 and a 200-day simple moving average of $20.46. The firm has a market capitalization of $4.07 billion, a P/E ratio of -1.17 and a beta of 0.86.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Wednesday, November 5th. The company reported ($2.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.32) by ($0.33). Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm had revenue of $336.58 million for the quarter, compared to analyst estimates of $378.44 million. During the same period in the previous year, the firm earned ($2.76) earnings per share. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. As a group, equities analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LCID shares. Morgan Stanley downgraded shares of Lucid Group from a “buy” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $10.00 in a report on Monday, December 8th. Stifel Nicolaus decreased their price target on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a research report on Monday, December 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $21.54.

About Lucid Group

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.