INVESTMENT FUND PUBLIC, a director at Lucid Group ($LCID), bought 374,717,927 shares of the company on 10-30-2024. We received data on the trade from a recent SEC filing. This increased their holdings by approximately 20.5%. Following this trade, they now own 2,205,602,291 shares of Lucid Group stock.
Lucid Group Insider Trading Activity
Lucid Group insiders have traded $LCID stock on the open market 3 times in the past 6 months. Of those trades, 2 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $LCID stock by insiders over the last 6 months:
- INVESTMENT FUND PUBLIC has traded it 2 times. They made 2 purchases, buying 396,188,386 shares and 0 sales.
- ERIC BACH (SVP, Product & Chief Engineer) sold 89,959 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Lucid Group Hedge Fund Activity
We have seen 184 institutional investors add shares of Lucid Group stock to their portfolio, and 196 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SCGE MANAGEMENT, L.P. added 5,115,000 shares (+inf%) to their portfolio in Q2 2024
- NORGES BANK removed 4,856,270 shares (-92.1%) from their portfolio in Q2 2024
- BLACKROCK INC. added 4,392,441 shares (+10.8%) to their portfolio in Q2 2024
- UBS GROUP AG removed 3,628,428 shares (-67.0%) from their portfolio in Q2 2024
- MORGAN STANLEY removed 3,287,562 shares (-18.9%) from their portfolio in Q2 2024
- DIMENSIONAL FUND ADVISORS LP removed 2,086,501 shares (-60.1%) from their portfolio in Q2 2024
- CITIGROUP INC removed 1,492,337 shares (-47.8%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $LCID Stock?
The bull case for Lucid Group Inc. ($LCID) hinges on its anticipated cash flow improvements and the strategic inventory management that supports the upcoming launch of the Lucid Gravity SUV, suggesting a favorable future revenue trajectory. The company recently surpassed adjusted EBITDA expectations, showing operational efficiency gains, while its improved gross profit metrics and growing total addressable market (TAM) for the Gravity highlight significant growth potential. Furthermore, successful technology licensing agreements and scaling production could boost margins and solidify its position in the luxury EV market. In contrast, the bear case emphasizes the disappointing fourth-quarter performance, where revenue fell 11.6% short of estimates and vehicle deliveries were only 1,734 units, indicating ongoing demand issues. The management's conservative 2024 production guidance of just 9,000 vehicles suggests difficulties in meeting market demand, and the continued cash burn raises red flags about potential capital raises. Additionally, there are concerns about Lucid's ability to establish a broad customer base as competition intensifies in the luxury automotive sector.
Background on $LCID Stock
Lucid Group, Inc. (NASDAQ: LCID) is an American automaker that specializes in the design and production of electric vehicles (EVs), particularly luxury electric sedans. Founded in 2007 and headquartered in Newark, California, Lucid aims to redefine the electric car experience through advanced engineering, innovative design, and sustainable technology. The company's flagship model, the Lucid Air, offers high performance, long range, and a luxurious driving experience, touting impressive specifications such as rapid acceleration and extensive use of cutting-edge technology. Lucid Group is focused on expanding its product lineup and production capacity, positioning itself as a key player in the rapidly growing electric vehicle market while also emphasizing sustainability and renewable energy solutions in its operations.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
