Royal London Asset Management Ltd. Boosts Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Royal London Asset Management Ltd. grew its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 233,324 shares of the company’s stock after purchasing an additional 17,181 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Lucid Group were worth $609,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in LCID. DDFG Inc purchased a new position in Lucid Group in the fourth quarter worth approximately $47,000. Private Advisor Group LLC lifted its stake in Lucid Group by 36.2% in the fourth quarter. Private Advisor Group LLC now owns 121,305 shares of the company’s stock worth $511,000 after acquiring an additional 32,267 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Lucid Group by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock worth $11,488,000 after acquiring an additional 195,519 shares during the last quarter. Ieq Capital LLC purchased a new position in Lucid Group in the fourth quarter worth approximately $105,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Lucid Group by 16.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 972,301 shares of the company’s stock worth $3,850,000 after acquiring an additional 134,701 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insiders Place Their Bets

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 61.26% of the company’s stock.

Lucid Group Stock Performance

Shares of Lucid Group stock opened at $3.94 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of -3.10 and a beta of 1.05. The firm’s fifty day simple moving average is $3.53 and its 200-day simple moving average is $3.02. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $6.12.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) earnings per share. As a group, equities analysts forecast that Lucid Group, Inc. will post -1.22 earnings per share for the current year.

Wall Street Analyst Weigh In

LCID has been the subject of a number of recent research reports. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Monday, July 8th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 price objective on shares of Lucid Group in a research report on Monday, September 9th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Thursday. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.71.

Lucid Group Company 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.