Headlands Technologies LLC Invests $1.37 Million in Lucid Group, Inc. $LCID

Headlands Technologies LLC purchased a new stake in shares of Lucid Group, Inc. (NASDAQ:LCID) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 204,423 shares of the company’s stock, valued at approximately $1,368,000. Headlands Technologies LLC owned about 0.05% of Lucid Group as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LCID. Bank of America Corp DE boosted its holdings in Lucid Group by 10.9% during the first quarter. Bank of America Corp DE now owns 1,919,073 shares of the company’s stock worth $18,289,000 after buying an additional 189,134 shares in the last quarter. Lazard Asset Management LLC raised its stake in Lucid Group by 192.6% in the 1st quarter. Lazard Asset Management LLC now owns 304,737 shares of the company’s stock valued at $2,904,000 after purchasing an additional 200,604 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Lucid Group by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 12,061,286 shares of the company’s stock worth $127,488,000 after buying an additional 701,826 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Lucid Group during the 4th quarter worth approximately $1,355,000. Finally, Edgestream Partners L.P. purchased a new stake in Lucid Group in the 1st quarter valued at $976,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Performance

Shares of LCID stock opened at $4.85 on Tuesday. Lucid Group, Inc. has a 52 week low of $2.37 and a 52 week high of $25.23. The company has a market cap of $1.91 billion, a P/E ratio of -0.35 and a beta of 0.83. The company has a quick ratio of 0.57, a current ratio of 1.14 and a debt-to-equity ratio of 3.00. The business has a 50 day moving average of $6.26 and a two-hundred day moving average of $7.30.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($2.78) EPS for the quarter, missing analysts’ consensus estimates of ($2.36) by ($0.42). Lucid Group had a negative net margin of 249.21% and a negative return on equity of 1,391.51%. The company had revenue of $405.35 million for the quarter, compared to analyst estimates of $381.59 million. During the same quarter in the prior year, the business earned ($0.24) EPS. Lucid Group’s revenue was up 56.2% compared to the same quarter last year. As a group, analysts anticipate that Lucid Group, Inc. will post -12.15 EPS for the current year.

Analysts Set New Price Targets

LCID has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $7.00 target price (down from $8.00) on shares of Lucid Group in a research note on Monday, July 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. TD Cowen cut their price target on Lucid Group from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of Lucid Group in a research report on Monday, August 3rd. Finally, Evercore set a $6.00 target price on shares of Lucid Group in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.22.

Lucid Group Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.