LPL Financial LLC Reduces Holdings in Lucid Group, Inc. (NASDAQ:LCID)

LPL Financial LLC lowered its stake in Lucid Group, Inc. (NASDAQ:LCID – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,525 shares of the company’s stock after selling 1,858 shares during the quarter. LPL Financial LLC’s holdings in Lucid Group were worth $1,465,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of LCID. Handelsbanken Fonder AB purchased a new stake in Lucid Group during the 4th quarter worth about $696,000. Envestnet Asset Management Inc. lifted its stake in shares of Lucid Group by 15.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 58,763 shares of the company’s stock valued at $401,000 after buying an additional 7,801 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Lucid Group by 6.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 402,564 shares of the company’s stock worth $2,484,000 after acquiring an additional 24,958 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Lucid Group in the 4th quarter worth approximately $260,000. Finally, Parallel Advisors LLC lifted its stake in shares of Lucid Group by 92.0% during the 4th quarter. Parallel Advisors LLC now owns 5,143 shares of the company’s stock worth $35,000 after purchasing an additional 2,464 shares during the period.

Analyst Ratings Changes

Several analysts have commented on the company. Cantor Fitzgerald lowered their price target on Lucid Group from $13.00 to $10.00 in a report on Tuesday, May 9th. R. F. Lafferty cut their price target on shares of Lucid Group from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, February 23rd. Citigroup lowered their price objective on shares of Lucid Group from $12.00 to $11.50 and set a “buy” rating for the company in a research note on Thursday, March 2nd. BNP Paribas lowered Lucid Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 23rd. Finally, Bank of America lowered their price target on Lucid Group from $10.00 to $8.00 in a research report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.79.

Lucid Group Stock Up 1.6 %

LCID stock opened at $7.61 on Friday. The company has a quick ratio of 3.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $7.61 and its 200 day simple moving average is $8.64. The stock has a market cap of $13.96 billion, a PE ratio of -5.28 and a beta of 1.11. Lucid Group, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $21.78.

Lucid Group (NASDAQ:LCID – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). The business had revenue of $257.71 million during the quarter, compared to the consensus estimate of $289.80 million. Lucid Group had a negative return on equity of 59.10% and a negative net margin of 286.13%. As a group, sell-side analysts predict that Lucid Group, Inc. will post -1.57 EPS for the current year.

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.