Lucid Group, Inc. (NASDAQ:LCID) Stock Holdings Cut by Blair William & Co. IL

Blair William & Co. IL cut its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 68.8% in the 4th quarter, Holdings Channel reports. The firm owned 10,657 shares of the company’s stock after selling 23,548 shares during the period. Blair William & Co. IL’s holdings in Lucid Group were worth $32,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Lucid Group by 4,301.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after acquiring an additional 249,500 shares during the period. Empowered Funds LLC bought a new position in Lucid Group in the 4th quarter worth $301,000. New York State Common Retirement Fund grew its holdings in Lucid Group by 5.7% in the 4th quarter. New York State Common Retirement Fund now owns 517,238 shares of the company’s stock valued at $1,562,000 after buying an additional 28,000 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in Lucid Group during the fourth quarter worth $861,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Lucid Group by 114.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 999,601 shares of the company’s stock worth $3,019,000 after purchasing an additional 533,973 shares during the period. 75.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Lucid Group in a research report on Friday, March 7th. Stifel Nicolaus decreased their price target on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.50 to $1.13 in a report on Monday, February 24th. Finally, Morgan Stanley raised Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a research note on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.69.

Lucid Group Trading Down 1.7 %

LCID stock opened at $2.28 on Monday. 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 company has a market capitalization of $6.91 billion, a PE ratio of -1.70 and a beta of 0.88. The company’s 50 day moving average price is $2.56 and its two-hundred day moving average price is $2.69. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43.

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.