Apollon Wealth Management LLC Sells 7,648 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Apollon Wealth Management LLC lowered its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 24.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,252 shares of the company’s stock after selling 7,648 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lucid Group were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LCID. Charles Schwab Investment Management Inc. boosted its holdings in Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after purchasing an additional 2,335,452 shares in the last quarter. Point72 Italy S.r.l. bought a new stake in shares of Lucid Group during the 3rd quarter worth about $3,209,000. Lecap Asset Management Ltd. bought a new position in shares of Lucid Group in the 4th quarter valued at approximately $861,000. The Manufacturers Life Insurance Company raised its stake in shares of Lucid Group by 2.5% in the 3rd 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 in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Lucid Group by 4,301.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after purchasing an additional 249,500 shares during the period. Institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Up 1.5 %

NASDAQ LCID opened at $3.31 on Friday. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. 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 stock has a market cap of $9.97 billion, a PE ratio of -2.47 and a beta of 0.93. The firm has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $2.97.

Analysts Set New Price Targets

A number of research firms have recently commented on LCID. Benchmark initiated coverage on shares of Lucid Group in a research report on Wednesday. They issued a “buy” rating and a $5.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. Royal Bank of Canada dropped their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Tuesday, January 7th. One investment 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 has a consensus rating of “Hold” and an average price target 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.