Caprock Group LLC Sells 131,703 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Caprock Group LLC cut its stake in Lucid Group, Inc. (NASDAQ:LCID) by 69.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,258 shares of the company’s stock after selling 131,703 shares during the quarter. Caprock Group LLC’s holdings in Lucid Group were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co grew its position in Lucid Group by 27.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after purchasing an additional 3,816 shares during the period. Greenleaf Trust boosted its stake in shares of Lucid Group by 22.0% in the 3rd quarter. Greenleaf Trust now owns 25,487 shares of the company’s stock worth $90,000 after buying an additional 4,604 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after acquiring an additional 5,031 shares during the period. SG Americas Securities LLC increased its position in Lucid Group by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 157,160 shares of the company’s stock valued at $475,000 after acquiring an additional 5,121 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Lucid Group by 2.5% in the third quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after acquiring an additional 6,374 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank of Canada cut their price target on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note 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 target price for the company in a research report on Monday, November 11th. Cfra set a $2.00 price target on shares of Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.04.

Lucid Group Stock Down 2.1 %

Shares of LCID stock opened at $2.83 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The company’s fifty day moving average price is $2.82 and its 200-day moving average price is $2.99. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of -2.11 and a beta of 0.93.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). The business had revenue of $200.04 million for the quarter, compared to the consensus estimate of $199.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. During the same period in the prior year, the business earned ($0.28) earnings per share. Sell-side analysts expect that Lucid Group, Inc. will post -1.25 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.