Private Advisor Group LLC Sells 56,102 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Private Advisor Group LLC cut its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 47.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,634 shares of the company’s stock after selling 56,102 shares during the period. Private Advisor Group LLC’s holdings in Lucid Group were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Lucid Group in the 4th quarter worth about $28,000. First National Corp MA ADV acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $32,000. Yousif Capital Management LLC acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $32,000. Wedge Capital Management L L P NC acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $33,000. Finally, Foster Group Inc. acquired a new stake in shares of Lucid Group in the 4th quarter valued at about $33,000. 75.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LCID has been the subject of several research reports. Royal Bank of Canada reduced their target price 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. Redburn Atlantic downgraded Lucid Group from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.50 to $1.13 in a research note on Monday, February 24th. Benchmark assumed coverage on Lucid Group in a research note on Wednesday, February 12th. They issued a “buy” rating and a $5.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated 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, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lucid Group presently has a consensus rating of “Hold” and an average target price of $2.73.

Lucid Group Price Performance

Shares of NASDAQ:LCID opened at $2.09 on Friday. The company has a market capitalization of $6.29 billion, a P/E ratio of -1.56 and a beta of 0.93. The company’s 50-day moving average is $2.87 and its 200 day moving average is $2.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.43.

Lucid Group 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.