Westwood Holdings Group Inc. Trims Position in Lucid Group, Inc. (NASDAQ:LCID)

Westwood Holdings Group Inc. lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCIDFree Report) by 93.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,033 shares of the company’s stock after selling 246,426 shares during the period. Westwood Holdings Group Inc.’s holdings in Lucid Group were worth $67,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LCID. UniSuper Management Pty Ltd increased its position in shares of Lucid Group by 127.6% in the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock worth $37,000 after acquiring an additional 3,700 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Lucid Group in the fourth quarter worth $43,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Lucid Group in the third quarter worth $57,000. Finally, Tyche Wealth Partners LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LCID shares. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Stifel Nicolaus lowered their price target on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a report on Tuesday, May 7th. Citigroup reaffirmed a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Finally, Robert W. Baird lowered their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, Lucid Group currently has a consensus rating of “Hold” and an average price target of $4.24.

Get Our Latest Analysis on LCID

Lucid Group Stock Performance

Lucid Group stock opened at $2.73 on Tuesday. The firm’s 50-day moving average is $2.69 and its 200-day moving average is $3.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.12 and a current ratio of 4.66. Lucid Group, Inc. has a 1 year low of $2.29 and a 1 year high of $8.37. The company has a market cap of $6.30 billion, a P/E ratio of -2.15 and a beta of 1.06.

Lucid Group (NASDAQ:LCIDGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The business had revenue of $172.74 million during the quarter, compared to the consensus estimate of $173.54 million. During the same quarter in the previous year, the business posted ($0.43) earnings per share. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities analysts expect that Lucid Group, Inc. will post -1.16 earnings per share for the current year.

Lucid Group Company Profile

(Free Report)

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.

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

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