5 Investors Betting Big on Lucid Motors (LCID) Stock


  • Public Investment Fund (PIF) affiliate Ayar Third Investment Company remains the largest shareholder of Lucid (LCID) with ownership of 1.37 billion shares.
  • In total, 13F filers increased their exposure to Lucid by 1.05% during Q4.
  • Other significant shareholders of LCID stock include BlackRock (BLK) and Vanguard.
LCID stock - 5 Investors Betting Big on Lucid Motors (LCID) Stock

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Lucid (NASDAQ:LCID) stock is down by nearly 20% after the electric vehicle (EV) company reported its Q4 earnings. During the quarter, revenue tallied in at $157.2 million, falling short of the analyst estimate of $180 million by about 12.6%. Earnings per share (EPS) came in at a loss of 29 cents, beating the analyst estimate of a loss of 30 cents.

Lucid delivered a total of 1,734 vehicles during Q4, down from 1,932 deliveries year-over-year (YOY). That brought its total 2023 deliveries to 6,001 vehicles, up by 37% YOY. Total production for 2023 was 8,428 vehicles, meeting the company’s guidance for between 8,000 and 8,500 vehicles.

“In 2023, we made our first strategic technology arrangement, gained market share, completed the Air lineup, and unveiled Gravity,” said CEO and CTO Peter Rawlinson. “As we start 2024, I’m very excited about the year ahead and beyond. We are entering the next transformational phase of the Lucid vehicle lineup and are laser-focused on growth.”

Still, Lucid’s 2024 production guidance of 9,000 vehicles came way below the analyst estimate for 12,000 vehicles.

5 Investors Betting Big on LCID Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q4, 477 13F filers disclosed a stake in LCID stock, a decline of eight filers from the prior quarter. Total shares owned by these filers increased by 1.05% to 1.696 billion from 1.679 billion. Only one filer owns LCID in their top 10 positions. That is Public Investment Fund (PIF) affiliate Ayar Third Investment Company.

Hedge funds leaned bearish on Lucid during Q4. Additionally, 71 hedge funds reported ownership compared to 79 funds during Q3. In total, the funds own 39.53 million shares, down by a significant 21.22% compared to 50.18 million shares during the prior quarter.

With that in mind, let’s take a look at Lucid’s largest shareholders:

  1. PIF/Ayar: 1.37 billion shares. PIF/Ayar’s stake remained unchanged during Q4.
  2. Vanguard: 83.25 million shares. Vanguard acquired 9.17 million shares during Q4.
  3. BlackRock (NYSE:BLK): 49.35 million shares. BlackRock acquired 990,405 shares during Q4.
  4. State Street (NYSE:STT): 19.82 million shares. State Street acquired 1.65 million shares during Q4.
  5. Geode Capital Management: 14.54 million shares. Geode acquired 493,941 shares during Q4.

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.  

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2024/02/5-investors-betting-big-on-lucid-motors-lcid-stock-feb-22nd/.

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