Lucid Group, Inc. $LCID Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 29.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,200 shares of the company’s stock after selling 19,374 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Lucid Group were worth $112,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Sterling Investment Counsel LLC acquired a new position in shares of Lucid Group during the first quarter worth about $25,000. HB Wealth Management LLC acquired a new position in Lucid Group during the 1st quarter worth approximately $25,000. Grimes & Company Inc. purchased a new stake in shares of Lucid Group in the 1st quarter valued at approximately $27,000. CFO4Life Group LLC acquired a new stake in shares of Lucid Group in the 1st quarter valued at $31,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Lucid Group during the 1st quarter worth $32,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Stock Performance

NASDAQ LCID opened at $2.13 on Wednesday. The company has a fifty day moving average of $2.35 and a two-hundred day moving average of $2.45. The company has a market capitalization of $6.54 billion, a PE ratio of -1.85 and a beta of 0.79. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.58 and a quick ratio of 2.11.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Tuesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $259.43 million during the quarter, compared to analysts’ expectations of $288.10 million. Lucid Group had a negative net margin of 259.57% and a negative return on equity of 79.40%. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) earnings per share. As a group, analysts expect that Lucid Group, Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lucid Group has an average rating of “Hold” and a consensus price target of $2.68.

Lucid Group 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.