Federated Hermes Inc. Acquires 11,445 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Federated Hermes Inc. increased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 36.4% during the first quarter, Holdings Channel reports. The fund owned 42,855 shares of the company’s stock after purchasing an additional 11,445 shares during the period. Federated Hermes Inc.’s holdings in Lucid Group were worth $104,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. HB Wealth Management LLC bought a new position in Lucid Group in the 1st quarter valued at $25,000. Sterling Investment Counsel LLC bought a new position in Lucid Group in the 1st quarter valued at $25,000. Grimes & Company Inc. bought a new position in Lucid Group in the 1st quarter valued at $27,000. Ground Swell Capital LLC bought a new position in Lucid Group in the 4th quarter valued at $34,000. Finally, Waverly Advisors LLC bought a new position in Lucid Group in the 4th quarter valued at $35,000. 75.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Wednesday, May 7th. Robert W. Baird increased their price objective on Lucid Group from $2.00 to $3.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.68.

Lucid Group Stock Down 1.8%

NASDAQ:LCID opened at $2.13 on Monday. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43. The company has a quick ratio of 2.11, a current ratio of 2.58 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $6.50 billion, a P/E ratio of -1.85 and a beta of 0.79. The stock’s fifty day simple moving average is $2.35 and its 200-day simple moving average is $2.47.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Lucid Group had a negative return on equity of 79.40% and a negative net margin of 259.57%. The company had revenue of $259.43 million during the quarter, compared to the consensus estimate of $288.10 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities research analysts expect 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.