Voya Investment Management LLC Boosts Stock Position in Lucid Group, Inc. (NASDAQ:LCID)

Voya Investment Management LLC raised its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,067 shares of the company’s stock after buying an additional 4,591 shares during the period. Voya Investment Management LLC’s holdings in Lucid Group were worth $363,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group during the 4th quarter worth about $28,000. Accredited Investors Inc. acquired a new stake in Lucid Group during the fourth quarter worth approximately $30,000. Proficio Capital Partners LLC purchased a new stake in shares of Lucid Group during the 4th quarter worth approximately $31,000. DRW Securities LLC acquired a new position in shares of Lucid Group in the 4th quarter valued at $31,000. Finally, First National Corp MA ADV acquired a new stake in Lucid Group during the 4th quarter worth $32,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and cut their price target for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Robert W. Baird raised their target price on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, Morgan Stanley raised shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group has an average rating of “Hold” and an average target price of $2.68.

Lucid Group Price Performance

Lucid Group stock opened at $2.51 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The business has a 50 day simple moving average of $2.36 and a 200-day simple moving average of $2.55. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43. The stock has a market capitalization of $7.61 billion, a PE ratio of -1.87 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The firm had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The firm’s quarterly revenue was up 36.1% compared to the same quarter last year. Equities analysts predict that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Lucid Group 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.