Raymond James & Associates Decreases Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Raymond James & Associates trimmed its holdings in shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,077 shares of the company’s stock after selling 12,493 shares during the quarter. Raymond James & Associates’ holdings in Lucid Group were worth $2,767,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LCID. 1832 Asset Management L.P. purchased a new stake in shares of Lucid Group during the 1st quarter valued at about $25,000. First Manhattan Co. raised its position in shares of Lucid Group by 666.7% during 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 in the last quarter. Allworth Financial LP raised its position in shares of Lucid Group by 61.1% during the 3rd quarter. Allworth Financial LP now owns 2,320 shares of the company’s stock valued at $32,000 after buying an additional 880 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Lucid Group during the 2nd quarter valued at about $33,000. Finally, Seeyond purchased a new stake in shares of Lucid Group during the 2nd quarter valued at about $33,000.

Lucid Group Price Performance

Shares of LCID stock opened at $7.82 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 5.04 and a quick ratio of 4.21. The company has a market capitalization of $13.14 billion, a P/E ratio of -5.51 and a beta of 0.67. The company’s 50-day simple moving average is $8.41 and its two-hundred day simple moving average is $13.39. Lucid Group, Inc. has a one year low of $6.09 and a one year high of $39.98.

Lucid Group (NASDAQ:LCIDGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.07). The company had revenue of $195.46 million during the quarter, compared to the consensus estimate of $232.50 million. Lucid Group had a negative return on equity of 39.15% and a negative net margin of 498.19%. As a group, equities analysts anticipate that Lucid Group, Inc. will post -1.11 EPS for the current year.

Insiders Place Their Bets

In other Lucid Group news, SVP Michael Bell sold 12,574 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $8.57, for a total value of $107,759.18. Following the transaction, the senior vice president now directly owns 1,261,950 shares in the company, valued at approximately $10,814,911.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lucid Group news, Director Public Investment Fund acquired 85,712,679 shares of the company’s stock in a transaction dated Thursday, December 22nd. The shares were purchased at an average cost of $10.68 per share, for a total transaction of $915,411,411.72. Following the completion of the purchase, the director now owns 1,100,965,202 shares in the company, valued at $11,758,308,357.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Bell sold 12,574 shares of the stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $8.57, for a total transaction of $107,759.18. Following the transaction, the senior vice president now owns 1,261,950 shares in the company, valued at $10,814,911.50. The disclosure for this sale can be found here. Insiders own 62.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Lucid Group from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, November 10th. Evercore ISI started coverage on shares of Lucid Group in a research report on Tuesday, November 29th. They issued an “in-line” rating and a $12.00 price objective on the stock. Bank of America started coverage on shares of Lucid Group in a research report on Thursday, December 15th. They issued a “buy” rating and a $21.00 price objective on the stock. R. F. Lafferty reduced their price objective on shares of Lucid Group from $19.00 to $17.00 in a research report on Thursday, November 10th. Finally, Cantor Fitzgerald started coverage on shares of Lucid Group in a research report on Tuesday, September 27th. They issued an “overweight” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average target price of $22.29.

About Lucid Group

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding LCID? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lucid Group, Inc. (NASDAQ:LCIDGet Rating).

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

Receive News & Ratings for Lucid Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucid Group and related companies with MarketBeat.com's FREE daily email newsletter.