Mirae Asset Global Investments Co. Ltd. Has $640,000 Stake in Lucid Group, Inc. (NASDAQ:LCID)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 199,974 shares of the company’s stock after selling 19,009 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lucid Group were worth $640,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LCID. Stratos Wealth Partners LTD. lifted its holdings in Lucid Group by 46.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 20,706 shares of the company’s stock valued at $63,000 after purchasing an additional 6,577 shares during the last quarter. Yousif Capital Management LLC bought a new position in shares of Lucid Group in the fourth quarter worth about $32,000. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in shares of Lucid Group during the 4th quarter worth approximately $44,000. R Squared Ltd acquired a new stake in shares of Lucid Group during the 4th quarter worth approximately $145,000. Finally, Foster Group Inc. acquired a new stake in shares of Lucid Group during the 4th quarter worth approximately $33,000. 75.17% of the stock is owned by institutional investors.

Lucid Group Stock Performance

Shares of LCID opened at $2.87 on Thursday. The firm’s 50 day moving average price is $2.86 and its two-hundred day moving average price is $2.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The firm has a market cap of $8.64 billion, a P/E ratio of -2.14 and a beta of 0.93. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LCID shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Monday, November 11th. Benchmark started coverage on shares of Lucid Group in a report on Wednesday. They set a “buy” rating and a $5.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.24.

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.