Rockefeller Capital Management L.P. Boosts Holdings in Lucid Group, Inc. $LCID

Rockefeller Capital Management L.P. raised its position in Lucid Group, Inc. (NASDAQ:LCID) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 340,533 shares of the company’s stock after acquiring an additional 34,116 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Lucid Group were worth $719,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Lucid Group in the second quarter valued at about $30,000. Cetera Investment Advisers lifted its position in Lucid Group by 25.5% in the second quarter. Cetera Investment Advisers now owns 90,834 shares of the company’s stock valued at $192,000 after purchasing an additional 18,462 shares during the period. Creative Planning boosted its holdings in Lucid Group by 9.3% in the 2nd quarter. Creative Planning now owns 181,346 shares of the company’s stock valued at $383,000 after purchasing an additional 15,454 shares in the last quarter. SG Americas Securities LLC increased its position in Lucid Group by 417.3% during the 2nd quarter. SG Americas Securities LLC now owns 1,328,819 shares of the company’s stock worth $2,804,000 after purchasing an additional 1,071,950 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of Lucid Group by 33.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 475,360 shares of the company’s stock worth $1,003,000 after buying an additional 118,746 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Price Performance

Lucid Group stock opened at $13.38 on Thursday. The firm has a market capitalization of $4.34 billion, a PE ratio of -1.25 and a beta of 0.80. Lucid Group, Inc. has a 52 week low of $11.46 and a 52 week high of $36.40. The firm’s 50-day simple moving average is $18.91 and its 200 day simple moving average is $21.59. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19.

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

Wall Street Analysts Forecast Growth

LCID has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Stifel Nicolaus decreased their target price on shares of Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, November 17th. Morgan Stanley increased their price target on shares of Lucid Group to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Lucid Group in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Lucid Group has a consensus rating of “Reduce” and a consensus price target of $24.04.

About Lucid Group

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.