Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC lowered its stake in Lucid Group, Inc. (NASDAQ:LCID) by 34.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,023 shares of the company’s stock after selling 12,856 shares during the quarter. Lindbrook Capital LLC’s holdings in Lucid Group were worth $73,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in LCID. Charles Schwab Investment Management Inc. grew its stake in Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after acquiring an additional 2,335,452 shares during the period. Point72 Italy S.r.l. acquired a new stake in Lucid Group in the 3rd quarter valued at $3,209,000. Van ECK Associates Corp grew its stake in Lucid Group by 103.3% in the 4th quarter. Van ECK Associates Corp now owns 1,246,461 shares of the company’s stock valued at $3,764,000 after acquiring an additional 633,410 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in 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 last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Lucid Group during the 4th quarter worth $861,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of Lucid Group in a research note on Friday. Stifel Nicolaus lowered their target price 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. TD Cowen assumed coverage on shares of Lucid Group in a research note on Friday. They set a “hold” rating and a $2.30 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lucid Group currently has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Trading Up 2.9 %

Shares of LCID stock opened at $2.15 on Friday. The company’s 50-day moving average price is $2.85 and its 200-day moving average price is $2.92. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of -1.60 and a beta of 0.97. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month 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.