Amundi Lowers Stake in Lucid Group, Inc. (NASDAQ:LCID)

Amundi cut its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 21.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 257,746 shares of the company’s stock after selling 71,271 shares during the period. Amundi’s holdings in Lucid Group were worth $768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LCID. Caprock Group LLC increased its position in shares of Lucid Group by 7.4% in the third quarter. Caprock Group LLC now owns 189,961 shares of the company’s stock valued at $671,000 after buying an additional 13,159 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lucid Group by 84.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after acquiring an additional 2,335,452 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Lucid Group by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock worth $930,000 after acquiring an additional 6,374 shares in the last quarter. FMR LLC raised its position in Lucid Group by 47.5% during the third quarter. FMR LLC now owns 149,987 shares of the company’s stock worth $529,000 after acquiring an additional 48,304 shares during the period. Finally, Townsquare Capital LLC acquired a new position in Lucid Group during the third quarter worth $75,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Trading Up 3.8 %

Shares of LCID opened at $2.44 on Thursday. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month 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 firm has a 50-day moving average price of $2.70 and a 200 day moving average price of $2.82. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Wednesday, February 26th. Stifel Nicolaus cut their price objective 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 restated a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.69.

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.