US Bancorp DE Decreases Holdings in Lucid Group, Inc. (NASDAQ:LCID)

US Bancorp DE lessened its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 31.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,860 shares of the company’s stock after selling 39,979 shares during the period. US Bancorp DE’s holdings in Lucid Group were worth $314,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in Lucid Group during the second quarter worth about $26,000. Accredited Investors Inc. bought a new position in Lucid Group during the second quarter worth about $27,000. Frank Rimerman Advisors LLC boosted its position in Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock worth $27,000 after purchasing an additional 9,250 shares during the period. Meeder Advisory Services Inc. bought a new position in Lucid Group during the first quarter worth about $29,000. Finally, QRG Capital Management Inc. bought a new position in Lucid Group during the second quarter worth about $34,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Insider Buying and Selling at Lucid Group

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the sale, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Public Investment Fund acquired 374,717,927 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Bach sold 89,959 shares of Lucid Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 61.26% of the company’s stock.

Lucid Group Price Performance

NASDAQ LCID opened at $2.14 on Wednesday. Lucid Group, Inc. has a 12 month low of $2.02 and a 12 month high of $5.31. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -1.63 and a beta of 1.11. The company’s 50 day moving average is $3.13 and its two-hundred day moving average is $3.09. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59.

Analysts Set New Price Targets

LCID has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a research report on Thursday, September 12th. Cfra set a $2.00 target price on shares of Lucid Group in a research report on Thursday, October 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research report on Tuesday, October 8th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lucid Group has an average rating of “Hold” and a consensus target price of $3.27.

About Lucid Group

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.