Lucid Group, Inc. (NASDAQ:LCID) Shares Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP lifted its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 222.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,064 shares of the company’s stock after buying an additional 109,685 shares during the period. Brevan Howard Capital Management LP’s holdings in Lucid Group were worth $480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in Lucid Group during the 4th quarter worth $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group in the fourth quarter worth about $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group in the 4th quarter valued at about $31,000. DRW Securities LLC acquired a new position in Lucid Group during the 4th quarter valued at about $31,000. Finally, First National Corp MA ADV bought a new stake in shares of Lucid Group during the 4th quarter worth about $32,000. 75.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LCID. Bank of America lowered shares of Lucid Group from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Cowen started coverage on Lucid Group in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of Lucid Group in a research note on Friday, March 7th. Stifel Nicolaus lowered their target price on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.68.

Lucid Group Stock Performance

Lucid Group stock opened at $2.51 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The company has a market cap of $7.61 billion, a P/E ratio of -1.87 and a beta of 0.88. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The firm’s 50 day simple moving average is $2.36 and its 200-day simple moving average is $2.55.

Lucid Group (NASDAQ:LCID) last announced its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The firm had revenue of $235.05 million for the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the firm earned ($0.27) earnings per share. Lucid Group’s revenue for the quarter was up 36.1% compared to the same quarter last year. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current year.

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.