Vanguard Personalized Indexing Management LLC, an institutional investor, has recently reduced its holdings in Lucid Group, Inc. (NASDAQ: LCID) by 23.5% during the first quarter of this year. According to the company’s disclosure with the Securities and Exchange Commission (SEC), Vanguard owned 56,576 shares of Lucid Group after selling 17,356 shares during the quarter. As of the most recent filing with the SEC, these holdings were valued at $455,000.

Lucid Group released its quarterly earnings data on August 7th, revealing that it reported an EPS of ($0.40) for the quarter. This figure fell short of analysts’ consensus estimates by ($0.05), as they had predicted a loss per share of $0.35. The company also experienced a negative return on equity of 64.02% and a negative net margin of 337.97%. Additionally, Lucid Group generated $150.90 million in revenue during the quarter, which was below the consensus estimate of $181.58 million. However, compared to the same period last year, the company’s quarterly revenue saw a significant increase of 55.1%.

Equities research analysts anticipate that Lucid Group will post -$1.51 EPS for the current year based on these recent developments.

In other news related to Lucid Group, on June 22nd, Director Public Investment Fund purchased a substantial number of shares from the firm’s stock amounting to approximately $1,814 billion in value. This transaction involved acquiring 265,693,703 shares at an average cost per share of $6.83. Following this purchase, the director now possesses 1,366,658,905 shares in Lucid Group with an approximate value exceeding $9 billion.

It is worth noting that insider ownership plays a significant role in determining market sentiments and demonstrating confidence in a particular company. Currently, corporate insiders own 62.50% of Lucid Group’s stock.

As of the provided reference date of August 29, 2023, these recent occurrences surrounding the holdings and financial activities of Lucid Group, Inc. illustrate important updates for investors and analysts alike. These disclosures and transactions offer valuable insights into the current state and future prospects of the company, as well as potential market trends in relation to its stock performance.

Growing Interest in Lucid Group’s Potential for Future Growth in the EV Market

August 29, 2023 – Lucid Group, Inc. (LCID) has been generating interest among institutional investors, as indicated by recent modifications to their holdings. The renowned asset management firm, 1832 Asset Management L.P., acquired a new position in Lucid Group in the first quarter, investing an estimated $25,000. Additionally, the investment advisory firm First Manhattan Co. exhibited a massive increase in its stake in Lucid Group during the same period, owning 1,150 shares valued at approximately $29,000 after purchasing an additional 1,000 shares.

Furthermore, Parallel Advisors LLC increased its stake by an astounding 92% during the fourth quarter of last year. The company now holds 5,143 shares valued at around $35,000 following its acquisition of an additional 2,464 shares. Twin Tree Management LP also entered into the mix by acquiring a new stake in Lucid Group in the first quarter with an approximate value of $35,000. Finally, U.S. Capital Wealth Advisors LLC added yet another new stake in Lucid Group during the fourth quarter with a valuation around $38,000.

These recent investments signify growing confidence among institutional investors in Lucid Group’s potential and prospects for future growth. Despite LCID stock opening at $6.15 on Tuesday – towards the lower end of its range over the past year – financial experts believe these strategic moves indicate favorable sentiments among investors regarding the company’s future performance.

Lucid Group operates within various sectors but is primarily recognized for its electric vehicle (EV) manufacturing endeavors. In light of mounting global concerns surrounding climate change and environmental sustainability issues over recent years, EV manufacturers have experienced heightened attention from both investors and consumers alike.

With a market capitalization standing at an impressive $14.04 billion and a beta of 0.99 that suggests moderate volatility compared to market fluctuations as measured by S&P 500, Lucid Group is well-positioned to benefit from the evolving landscape of the EV market. However, it is important to note that the firm’s price-to-earnings ratio stands at -4.07, indicating periods of negative earnings and therefore posing challenges for potential investors seeking profitability in the short term.

Industry analysts have closely followed developments concerning LCID stock and have generated various research reports on the company. Bank of America, for instance, initiated coverage on Lucid Group in a research note dated Monday, July 17th. In their evaluation, they assigned a “neutral” rating to the stock along with an $8.00 price objective.

In contrast, BNP Paribas recently downgraded Lucid Group from “neutral” to “underperform,” simultaneously reducing their price objective from $6.50 to $5.00. Cantor Fitzgerald also lowered their price objective from $13.00 to $10.00 in a research note released on Tuesday, May 9th.

Citigroup likewise reduced its price objective from $8.00 to $7.50 while maintaining a “neutral” rating for LCID stock in a research note published on Wednesday, August 9th.

However, Needham & Company LLC offers a more optimistic perspective by assigning Lucid Group a “buy” rating and setting a target price of $9.00 per share in their report published on Tuesday, August 8th.

In summary, institutional investors’ recent modifications to their holdings suggest a growing interest in Lucid Group’s potential for future growth in the EV market despite its current stock valuation being at the lower end of its range over the past year.

It is crucial for prospective investors to remain vigilant and consider multiple factors when evaluating any investment opportunity and weigh both positive and negative sentiments before making informed decisions regarding purchasing or selling securities.

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