Deutsche Bank AG Purchases 7,645 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Deutsche Bank AG increased its stake in Lucid Group, Inc. (NASDAQ:LCID) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,926 shares of the company’s stock after purchasing an additional 7,645 shares during the period. Deutsche Bank AG’s holdings in Lucid Group were worth $293,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Cubist Systematic Strategies LLC grew its position in Lucid Group by 4,583.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 2,060,232 shares of the company’s stock valued at $6,222,000 after acquiring an additional 2,016,245 shares during the last quarter. Caption Management LLC lifted its stake in shares of Lucid Group by 71.4% in the fourth quarter. Caption Management LLC now owns 16,814 shares of the company’s stock worth $51,000 after acquiring an additional 7,007 shares during the period. Brevan Howard Capital Management LP lifted its stake in shares of Lucid Group by 222.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 159,064 shares of the company’s stock worth $480,000 after acquiring an additional 109,685 shares during the period. Cantor Fitzgerald L. P. acquired a new position in shares of Lucid Group in the fourth quarter worth approximately $41,000. Finally, Captrust Financial Advisors lifted its stake in shares of Lucid Group by 54.9% in the fourth quarter. Captrust Financial Advisors now owns 29,893 shares of the company’s stock worth $90,000 after acquiring an additional 10,591 shares during the period. Institutional investors own 75.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LCID. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price for the company in a report on Tuesday, March 18th. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a report on Friday, March 7th. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a report on Wednesday, May 7th. Robert W. Baird upped their price target on Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Finally, Cowen assumed coverage on Lucid Group in a report on Thursday, March 6th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Lucid Group currently has a consensus rating of “Hold” and an average target price of $2.68.

Lucid Group Stock Down 7.9%

LCID stock opened at $2.22 on Friday. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $2.58. The stock has a market cap of $6.77 billion, a P/E ratio of -1.66 and a beta of 0.88.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The firm had revenue of $235.05 million for the quarter, compared to analysts’ expectations of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.27) EPS. Analysts expect that Lucid Group, Inc. will post -1.25 EPS 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.