Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,543 shares of the company’s stock after selling 7,404 shares during the period. Asset Management One Co. Ltd.’s holdings in Lucid Group were worth $1,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LCID. Quent Capital LLC lifted its stake in shares of Lucid Group by 184.6% in the 3rd quarter. Quent Capital LLC now owns 4,482 shares of the company’s stock valued at $25,000 after purchasing an additional 2,907 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Lucid Group in the 1st quarter valued at $25,000. First Manhattan Co. raised its holdings in shares of Lucid Group by 666.7% in the 1st quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock valued at $29,000 after buying an additional 1,000 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Lucid Group by 283.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 4,967 shares of the company’s stock valued at $34,000 after buying an additional 3,671 shares during the period. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Lucid Group by 127.6% in the 3rd quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after buying an additional 3,700 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LCID. Bank of America cut their price objective on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Stifel Nicolaus lowered their price objective on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Robert W. Baird lowered their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Lucid Group currently has an average rating of “Hold” and a consensus target price of $4.80.

Lucid Group Stock Down 0.4 %

Shares of NASDAQ LCID opened at $2.49 on Friday. Lucid Group, Inc. has a 52-week low of $2.42 and a 52-week high of $8.38. The business has a 50-day moving average price of $3.06 and a 200 day moving average price of $3.81. The company has a quick ratio of 4.03, a current ratio of 4.72 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5.73 billion, a PE ratio of -1.78 and a beta of 1.01.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The company had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm’s revenue was down 39.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) earnings per share. Equities research analysts forecast that Lucid Group, Inc. will post -1.06 earnings per share for the current year.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.