Skandinaviska Enskilda Banken AB publ Acquires 11,283 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ lifted its holdings in Lucid Group, Inc. (NASDAQ:LCID – Get Rating) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,344 shares of the company’s stock after purchasing an additional 11,283 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Lucid Group were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LCID. US Bancorp DE lifted its position in shares of Lucid Group by 67.6% in the first quarter. US Bancorp DE now owns 14,017 shares of the company’s stock worth $356,000 after purchasing an additional 5,654 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Lucid Group by 16.3% in the first quarter. PNC Financial Services Group Inc. now owns 19,005 shares of the company’s stock worth $482,000 after purchasing an additional 2,661 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Lucid Group in the first quarter worth $383,000. BlackRock Inc. lifted its position in shares of Lucid Group by 23.7% in the first quarter. BlackRock Inc. now owns 15,623,711 shares of the company’s stock worth $396,842,000 after purchasing an additional 2,990,659 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in Lucid Group during the first quarter worth $400,000.

Lucid Group Trading Down 0.3 %

LCID opened at $7.04 on Friday. Lucid Group, Inc. has a twelve month low of $6.09 and a twelve month high of $21.78. The company has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $9.01. The company has a quick ratio of 4.35, a current ratio of 5.24 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of -4.89 and a beta of 1.11.

Lucid Group (NASDAQ:LCID – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Lucid Group had a negative return on equity of 39.86% and a negative net margin of 214.49%. The firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $289.80 million. Analysts predict that Lucid Group, Inc. will post -1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LCID shares. Morgan Stanley dropped their price target on shares of Lucid Group from $10.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 25th. BNP Paribas lowered shares of Lucid Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 23rd. Citigroup dropped their price target on shares of Lucid Group from $12.00 to $11.50 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. Needham & Company LLC dropped their price target on shares of Lucid Group from $16.00 to $10.00 in a research report on Tuesday, May 9th. Finally, R. F. Lafferty dropped their price target on shares of Lucid Group from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.79.

Lucid Group Profile

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

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