Machina Capital S.A.S. Buys New Stake in Lucid Group, Inc. (NASDAQ:LCID)

Machina Capital S.A.S. acquired a new position in shares of Lucid Group, Inc. (NASDAQ:LCID) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,000 shares of the company’s stock, valued at approximately $101,000.

A number of other large investors also recently added to or reduced their stakes in LCID. UniSuper Management Pty Ltd grew its holdings in shares of Lucid Group by 127.6% during the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after buying an additional 3,700 shares in the last quarter. GAMMA Investing LLC acquired a new position in Lucid Group in the fourth quarter valued at about $28,000. Banque Cantonale Vaudoise acquired a new position in Lucid Group in the third quarter valued at about $38,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Lucid Group by 309.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,468 shares of the company’s stock worth $47,000 after purchasing an additional 6,398 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Lucid Group during the third quarter worth about $57,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Price Performance

NASDAQ:LCID traded down $0.43 during trading hours on Tuesday, hitting $2.62. The company’s stock had a trading volume of 36,965,203 shares, compared to its average volume of 33,243,355. The business’s 50-day moving average is $2.77 and its two-hundred day moving average is $3.49. The company has a market capitalization of $6.03 billion, a PE ratio of -1.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. Lucid Group, Inc. has a 52-week low of $2.29 and a 52-week high of $8.37.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Monday, May 6th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The firm had revenue of $172.74 million during the quarter, compared to analyst estimates of $173.54 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. As a group, research analysts anticipate that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LCID shares. Robert W. Baird reduced their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Stifel Nicolaus dropped their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Morgan Stanley reissued an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a report on Monday, March 25th. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Tuesday. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.34.

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.