Shareholders of Lucid (NASDAQ:LCID) are smiling ear to ear today, as LCID stock is up over 5%. However, the electric vehicle (EV) maker is still down more than 30% year-to-date. As a result, shareholders are looking forward to Feb. 28. Why? On that day, Lucid will report earnings for Q4 of 2021.
Lucid will be hosting its earnings call a bit differently than previous ones. The company will be partnering with Say Technologies to allow investors to submit and upvote questions to its management. Starting on Feb. 21, investors can submit their questions through Say’s official website. The Q&A feature will remain open until 24 hours before the start of the earnings call, which will occur on Feb. 28 at 5:30 p.m. Eastern. Lucid’s management will then select an unspecified number of questions from the submissions to answer.
With Lucid’s poor YTD performance in mind, InvestorPlace’s Mark Hake cautions investors to wait for Lucid to report earnings before taking a position. Hake adds that he would like to see increased production numbers and deliveries. For 2022, the EV maker has a production target of 20,000 vehicles.
What Are Analysts Expecting From Lucid For Q4?
According to Yahoo Finance, analysts on average are expecting revenue of $36.74 million for the quarter. On top of that, analysts are expecting earnings per share (EPS) of -35 cents. Profitability remains a key issue for Lucid as the EV company works to ramp up production and expand into other markets. For Q1 of 2022, analysts are expecting EPS of -24 cents.
Which Institutional Investors Are Betting Big on LCID Stock?
Based on submitted Q4 13F filings, here are the largest institutional owners of Lucid common stock:
- Vanguard Group, 28.3 million shares, or 1.7% ownership
- BlackRock, 12.6 million shares, or 0.76% ownership
- Franklin Resources, 8.6 million shares, or 0.52% ownership
- Geode Capital Management, 5.8 million shares, or 0.35% ownership
- ProShare Advisors, 2.7 million shares, or 0.16% ownership
It’s likely that the Saudi Public Investment Fund (PIF) will remain the largest institutional shareholder of LCID stock, although they have not submitted a Q4 13F form yet. As of Q3, PIF owned 1.01 billion shares of Lucid, which represents a massive 61% ownership stake. The deadline for institutional investors to submit a quarterly 13F is today, so PIF’s Lucid stake as of Dec. 31 will be disclosed soon.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
