Police & Firemen s Retirement System of New Jersey Buys 118,746 Shares of Lucid Group, Inc. $LCID

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 475,360 shares of the company’s stock after purchasing an additional 118,746 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Lucid Group were worth $1,003,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LCID. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Lucid Group by 27.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,993 shares of the company’s stock valued at $44,000 after buying an additional 3,882 shares in the last quarter. Amalgamated Bank boosted its position in shares of Lucid Group by 9.3% in the second quarter. Amalgamated Bank now owns 55,350 shares of the company’s stock valued at $117,000 after acquiring an additional 4,720 shares during the period. Envestnet Asset Management Inc. grew its stake in Lucid Group by 13.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,340 shares of the company’s stock valued at $87,000 after acquiring an additional 5,013 shares in the last quarter. Blair William & Co. IL increased its holdings in Lucid Group by 50.5% during the 1st quarter. Blair William & Co. IL now owns 16,036 shares of the company’s stock worth $39,000 after acquiring an additional 5,379 shares during the period. Finally, Deutsche Bank AG increased its holdings in Lucid Group by 5.8% during the 1st quarter. Deutsche Bank AG now owns 102,587 shares of the company’s stock worth $248,000 after acquiring an additional 5,661 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Ratings Changes

LCID has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a report on Wednesday. Stifel Nicolaus dropped their price objective on Lucid Group from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 17th. Morgan Stanley boosted their target price on Lucid Group to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $24.04.

Lucid Group Stock Performance

NASDAQ LCID opened at $12.30 on Friday. Lucid Group, Inc. has a 52-week low of $11.46 and a 52-week high of $36.40. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.34 and a current ratio of 1.81. The company has a market capitalization of $3.99 billion, a P/E ratio of -1.15 and a beta of 0.80. The company has a fifty day moving average of $19.33 and a 200-day moving average of $21.80.

Lucid Group (NASDAQ:LCID) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($2.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.32) by ($0.33). Lucid Group had a negative net margin of 224.99% and a negative return on equity of 85.13%. The firm had revenue of $336.58 million for the quarter, compared to analysts’ expectations of $378.44 million. During the same quarter in the previous year, the business earned ($2.76) EPS. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. As a group, equities research analysts predict that Lucid Group, Inc. will post -1.25 EPS for the current fiscal 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.