DekaBank Deutsche Girozentrale Sells 4,305 Shares of Lucid Group, Inc. (NASDAQ:LCID)

DekaBank Deutsche Girozentrale reduced its stake in Lucid Group, Inc. (NASDAQ:LCID) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,894 shares of the company’s stock after selling 4,305 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Lucid Group were worth $660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mariner LLC lifted its holdings in 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 acquiring an additional 987 shares in the last quarter. 1832 Asset Management L.P. bought a new position in Lucid Group during the first quarter worth about $25,000. First Manhattan Co. lifted its holdings in Lucid Group by 666.7% during the first quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after acquiring an additional 1,000 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Lucid Group by 9.6% during the first quarter. Moors & Cabot Inc. now owns 15,971 shares of the company’s stock worth $406,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its holdings in Lucid Group by 2.3% during the fourth quarter. Vident Investment Advisory LLC now owns 75,195 shares of the company’s stock worth $514,000 after acquiring an additional 1,686 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LCID has been the topic of a number of research reports. Bank of America cut their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Morgan Stanley restated an “underweight” rating and issued a $3.00 price target on shares of Lucid Group in a report on Monday, March 25th. Cantor Fitzgerald lowered Lucid Group from a “neutral” rating to an “underweight” rating and cut their price target for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Stifel Nicolaus cut their price target on Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Finally, Robert W. Baird lowered their target price on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.80.

Lucid Group Stock Performance

Shares of LCID opened at $2.43 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.72 and a quick ratio of 4.03. The stock has a 50-day moving average of $3.04 and a 200-day moving average of $3.76. The company has a market cap of $5.59 billion, a PE ratio of -1.74 and a beta of 1.01. Lucid Group, Inc. has a one year low of $2.40 and a one year high of $8.37.

Lucid Group (NASDAQ:LCID) last released its quarterly 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 company had revenue of $157.20 million for the quarter, compared to analyst estimates of $179.88 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. Lucid Group’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. On average, equities research analysts predict that Lucid Group, Inc. will post -1.06 EPS for the current fiscal year.

About Lucid Group

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.