Raymond James & Associates Lowers Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Raymond James & Associates trimmed its holdings in shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 5.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 198,077 shares of the company’s stock after selling 12,493 shares during the period. Raymond James & Associates’ holdings in Lucid Group were worth $2,767,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Cetera Advisors LLC lifted its holdings in shares of Lucid Group by 3.3% during the second quarter. Cetera Advisors LLC now owns 22,178 shares of the company’s stock valued at $381,000 after purchasing an additional 702 shares during the last quarter. Allworth Financial LP raised its holdings in Lucid Group by 61.1% in the 3rd quarter. Allworth Financial LP now owns 2,320 shares of the company’s stock worth $32,000 after acquiring an additional 880 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Lucid Group by 8.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 12,658 shares of the company’s stock worth $217,000 after acquiring an additional 965 shares during the last quarter. Mariner LLC raised its holdings in Lucid Group by 6.9% in the 1st quarter. Mariner LLC now owns 15,231 shares of the company’s stock worth $387,000 after acquiring an additional 987 shares during the last quarter. Finally, Tradition Wealth Management LLC raised its holdings in Lucid Group by 83.8% in the 2nd quarter. Tradition Wealth Management LLC now owns 2,194 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LCID shares. 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 report on Thursday, November 10th. Cantor Fitzgerald assumed coverage on shares of Lucid Group in a report on Tuesday, September 27th. They issued an “overweight” rating and a $23.00 price objective for the company. Bank of America assumed coverage on shares of Lucid Group in a research report on Thursday, December 15th. They issued a “buy” rating and a $21.00 target price for the company. Evercore ISI assumed coverage on shares of Lucid Group in a research report on Tuesday, November 29th. They issued an “in-line” rating and a $12.00 target price for the company. Finally, R. F. Lafferty cut their target price on shares of Lucid Group from $19.00 to $17.00 in a research report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lucid Group has an average rating of “Hold” and an average target price of $22.29.

Lucid Group Trading Up 5.0 %

Shares of LCID stock opened at $7.82 on Friday. Lucid Group, Inc. has a 1 year low of $6.09 and a 1 year high of $39.98. The firm has a fifty day moving average price of $8.41 and a 200-day moving average price of $13.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 5.04 and a quick ratio of 4.21. The company has a market cap of $13.14 billion, a price-to-earnings ratio of -5.51 and a beta of 0.67.

Lucid Group (NASDAQ:LCIDGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.07). Lucid Group had a negative net margin of 498.19% and a negative return on equity of 39.15%. The business had revenue of $195.46 million for the quarter, compared to the consensus estimate of $232.50 million. As a group, equities analysts predict that Lucid Group, Inc. will post -1.11 earnings per share for the current year.

Insider Activity

In other news, SVP Michael Bell sold 12,574 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $8.57, for a total transaction of $107,759.18. Following the completion of the sale, the senior vice president now owns 1,261,950 shares of the company’s stock, valued at approximately $10,814,911.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Public Investment Fund bought 85,712,679 shares of the company’s stock in a transaction that occurred on Thursday, December 22nd. The stock was bought at an average price of $10.68 per share, with a total value of $915,411,411.72. Following the acquisition, the director now owns 1,100,965,202 shares of the company’s stock, valued at approximately $11,758,308,357.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Bell sold 12,574 shares of the company’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $8.57, for a total transaction of $107,759.18. Following the completion of the transaction, the senior vice president now directly owns 1,261,950 shares of the company’s stock, valued at approximately $10,814,911.50. The disclosure for this sale can be found here. Insiders own 62.50% of the company’s stock.

About Lucid Group

(Get Rating)

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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