Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Tobam

Tobam reduced its position in Lucid Group, Inc. (NASDAQ:LCID) by 98.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,668 shares of the company’s stock after selling 1,009,301 shares during the period. Tobam’s holdings in Lucid Group were worth $62,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Lucid Group by 10.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock valued at $48,109,000 after buying an additional 1,060,588 shares in the last quarter. Ballentine Partners LLC acquired a new position in Lucid Group during the fourth quarter worth about $48,000. TFB Advisors LLC purchased a new stake in shares of Lucid Group in the fourth quarter valued at about $777,000. SG Americas Securities LLC lifted its holdings in shares of Lucid Group by 26.8% in the fourth quarter. SG Americas Securities LLC now owns 133,095 shares of the company’s stock valued at $560,000 after purchasing an additional 28,157 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Lucid Group by 2.9% during the 4th quarter. IFM Investors Pty Ltd now owns 226,656 shares of the company’s stock worth $954,000 after purchasing an additional 6,469 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of LCID stock opened at $2.50 on Friday. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -1.79 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The company has a 50 day moving average price of $3.07 and a 200 day moving average price of $3.82. Lucid Group, Inc. has a one year low of $2.50 and a one year high of $8.87.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The business had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The firm’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same period last year, the company posted ($0.40) EPS. Sell-side analysts anticipate that Lucid Group, Inc. will post -1.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their target price on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Cantor Fitzgerald downgraded shares of Lucid Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $6.00 to $4.00 in a research note on Thursday, February 22nd. Bank of America decreased their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Finally, Robert W. Baird cut their price objective on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.80.

Lucid Group Company 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.