Steward Partners Investment Advisory LLC Lowers Stake in Lucid Group, Inc. (NASDAQ:LCID)

Steward Partners Investment Advisory LLC lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 18.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,801 shares of the company’s stock after selling 1,092 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lucid Group were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Truist Financial Corp boosted its position in Lucid Group by 32.5% in the 1st quarter. Truist Financial Corp now owns 25,656 shares of the company’s stock valued at $652,000 after buying an additional 6,289 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Lucid Group in the 1st quarter valued at approximately $37,000. Kestra Advisory Services LLC boosted its position in Lucid Group by 39.4% in the 1st quarter. Kestra Advisory Services LLC now owns 25,586 shares of the company’s stock valued at $650,000 after buying an additional 7,227 shares during the period. Avantax Advisory Services Inc. boosted its position in Lucid Group by 14.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,949 shares of the company’s stock valued at $666,000 after buying an additional 3,359 shares during the period. Finally, Parallel Advisors LLC purchased a new position in Lucid Group in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.31% of the company’s stock.

Lucid Group Price Performance

Shares of NASDAQ:LCID opened at 12.91 on Friday. The company’s fifty day moving average price is 14.12 and its 200 day moving average price is 16.77. Lucid Group, Inc. has a 12 month low of 10.89 and a 12 month high of 57.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 7.59 and a quick ratio of 6.75. The firm has a market capitalization of $21.60 billion, a P/E ratio of -8.99 and a beta of 0.62.

Analysts Set New Price Targets

LCID has been the subject of several recent research reports. Needham & Company LLC initiated coverage on shares of Lucid Group in a research report on Wednesday, September 14th. They issued an “underperform” rating for the company. R. F. Lafferty decreased their price objective on shares of Lucid Group from $19.00 to $17.00 in a research report on Thursday. Citigroup reaffirmed a “buy” rating and set a $28.00 price objective on shares of Lucid Group in a research report on Thursday, September 15th. Morgan Stanley decreased their price objective on shares of Lucid Group from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Cantor Fitzgerald began coverage on shares of Lucid Group in a research report on Tuesday, September 27th. They set an “overweight” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of 26.83.

Lucid Group Profile

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

See Also

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Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

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