DnB Asset Management AS grew its stake in shares of Lucid Group, Inc. (NASDAQ:LCID – Free Report) by 107.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,684 shares of the company’s stock after buying an additional 69,209 shares during the quarter. DnB Asset Management AS’s holdings in Lucid Group were worth $921,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of LCID. 1832 Asset Management L.P. bought a new position in shares of Lucid Group during the first quarter valued at about $25,000. First Manhattan Co. grew its stake in shares of Lucid Group by 666.7% during the first quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock valued at $29,000 after buying an additional 1,000 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of Lucid Group in the first quarter worth about $35,000. Harvest Fund Management Co. Ltd grew its stake in shares of Lucid Group by 103.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,789 shares of the company’s stock worth $38,000 after purchasing an additional 2,433 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Lucid Group in the first quarter worth about $41,000.
Insider Activity
In other Lucid Group news, Director Public Investment Fund bought 265,693,703 shares of the stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average cost of $6.83 per share, for a total transaction of $1,814,687,991.49. Following the completion of the acquisition, the director now owns 1,366,658,905 shares of the company’s stock, valued at $9,334,280,321.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Public Investment Fund acquired 265,693,703 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was bought at an average cost of $6.83 per share, for a total transaction of $1,814,687,991.49. Following the acquisition, the director now directly owns 1,366,658,905 shares in the company, valued at $9,334,280,321.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Bell sold 46,735 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $6.01, for a total transaction of $280,877.35. Following the completion of the transaction, the senior vice president now owns 1,437,293 shares of the company’s stock, valued at $8,638,130.93. The disclosure for this sale can be found here. Company insiders own 62.50% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Analysis on LCID
Lucid Group Price Performance
LCID stock opened at $5.50 on Wednesday. The firm has a 50 day moving average price of $6.52 and a 200-day moving average price of $7.06. Lucid Group, Inc. has a 52-week low of $5.44 and a 52-week high of $17.81. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of -3.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 6.11 and a current ratio of 7.07.
Lucid Group (NASDAQ:LCID – Get Free Report) last released its earnings results on Monday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Lucid Group had a negative net margin of 337.97% and a negative return on equity of 64.02%. The business had revenue of $150.90 million for the quarter, compared to analysts’ expectations of $181.58 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. Lucid Group’s revenue for the quarter was up 55.1% on a year-over-year basis. Equities research analysts forecast that Lucid Group, Inc. will post -1.51 EPS for the current fiscal year.
About Lucid Group
Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.
Read More
- Five stocks we like better than Lucid Group
- What is the S&P 500 and How It is Distinct from Other Indexes
- Hold-It-Forever AutoZone Pulls into Buy Zone
- How to Invest in Communication Stocks
- Virtual Riches: 3 Stocks Leading the VR Revolution
- What is Insider Trading? What You Can Learn from Insider Trading
- 5 eCommerce Companies that need to be on Your Watch List
Want to see what other hedge funds are holding LCID? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lucid Group, Inc. (NASDAQ:LCID – Free Report).
Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.
