Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC lowered its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 33.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 103,589 shares of the company’s stock after selling 52,960 shares during the period. GM Advisory Group LLC’s holdings in Lucid Group were worth $313,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LCID. Newbridge Financial Services Group Inc. bought a new position in Lucid Group in the 4th quarter worth about $28,000. Proficio Capital Partners LLC acquired a new position in shares of Lucid Group during the fourth quarter worth approximately $31,000. First National Corp MA ADV bought a new position in Lucid Group in the 4th quarter worth approximately $32,000. Yousif Capital Management LLC acquired a new stake in Lucid Group in the 4th quarter valued at approximately $32,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Lucid Group during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analyst Ratings Changes

LCID has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective on the stock in a research note on Tuesday. Finally, Bank of America downgraded Lucid Group from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $3.00 to $1.00 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Lucid Group has a consensus rating of “Hold” and a consensus target price of $2.69.

Lucid Group Trading Up 3.8 %

Shares of LCID stock opened at $2.44 on Thursday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The firm has a market capitalization of $7.40 billion, a P/E ratio of -1.82 and a beta of 0.97. 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 firm’s fifty day simple moving average is $2.70 and its 200 day simple moving average is $2.82.

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.