SeaCrest Wealth Management LLC Lowers Holdings in Lucid Group, Inc. (NASDAQ:LCID)

SeaCrest Wealth Management LLC trimmed its position in Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 66.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,170 shares of the company’s stock after selling 6,180 shares during the period. SeaCrest Wealth Management LLC’s holdings in Lucid Group were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LCID. ICICI Prudential Asset Management Co Ltd raised its position in shares of Lucid Group by 17.0% in the first quarter. ICICI Prudential Asset Management Co Ltd now owns 4,753 shares of the company’s stock worth $126,000 after buying an additional 690 shares in the last quarter. KBC Group NV increased its stake in Lucid Group by 3.2% in the 1st quarter. KBC Group NV now owns 25,266 shares of the company’s stock worth $642,000 after acquiring an additional 787 shares during the last quarter. Harvest Volatility Management LLC raised its holdings in shares of Lucid Group by 0.8% in the 1st quarter. Harvest Volatility Management LLC now owns 100,545 shares of the company’s stock valued at $2,554,000 after acquiring an additional 844 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Lucid Group by 8.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 12,658 shares of the company’s stock valued at $217,000 after acquiring an additional 965 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Lucid Group by 6.9% during the first quarter. Mariner LLC now owns 15,231 shares of the company’s stock worth $387,000 after purchasing an additional 987 shares in the last quarter. 70.31% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Stock Down 1.7 %

LCID opened at 11.26 on Friday. Lucid Group, Inc. has a 12 month low of 10.89 and a 12 month high of 57.44. The company has a current ratio of 5.04, a quick ratio of 4.21 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is 13.75 and its 200-day moving average price is 16.50. The company has a market cap of $18.92 billion, a P/E ratio of -7.93 and a beta of 0.62.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LCID shares. Cantor Fitzgerald assumed coverage on shares of Lucid Group in a research report on Tuesday, September 27th. They set an “overweight” rating and a $23.00 target price for the company. R. F. Lafferty dropped their price objective on shares of Lucid Group from $19.00 to $17.00 in a report on Thursday, November 10th. Morgan Stanley reduced their target price on Lucid Group from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, November 10th. Citigroup reaffirmed a “buy” rating and set a $28.00 price target on shares of Lucid Group in a research note on Thursday, September 15th. Finally, Needham & Company LLC started coverage on Lucid Group in a report on Wednesday, September 14th. They set an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of 26.83.

Lucid Group Profile

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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.

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

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