Principal Financial Group Inc. Has $158,000 Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Principal Financial Group Inc. trimmed its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,247 shares of the company’s stock after selling 6,664 shares during the quarter. Principal Financial Group Inc.’s holdings in Lucid Group were worth $158,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of LCID. Newbridge Financial Services Group Inc. acquired a new stake in Lucid Group during the fourth quarter worth approximately $28,000. First National Corp MA ADV acquired a new position in shares of Lucid Group in the 4th quarter valued at approximately $32,000. Yousif Capital Management LLC acquired a new position in shares of Lucid Group in the 4th quarter valued at approximately $32,000. Crumly & Associates Inc. acquired a new position in shares of Lucid Group in the 3rd quarter valued at approximately $38,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Lucid Group in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Trading Up 2.9 %

NASDAQ:LCID opened at $2.15 on Friday. 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 52 week low of $1.93 and a 52 week high of $4.43. The firm’s fifty day moving average is $2.85 and its 200-day moving average is $2.92. The firm has a market cap of $6.48 billion, a P/E ratio of -1.60 and a beta of 0.97.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Lucid Group in a research report on Friday. They issued a “hold” rating and a $2.30 target price for the company. Stifel Nicolaus lowered their price objective on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada lowered their price objective on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report 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 price objective for the company in a research report on Monday, November 11th. Finally, Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of Lucid Group in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.69.

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.