Headlands Technologies LLC Sells 231,798 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Headlands Technologies LLC trimmed its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 92.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,605 shares of the company’s stock after selling 231,798 shares during the quarter. Headlands Technologies LLC’s holdings in Lucid Group were worth $51,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in shares of Lucid Group by 34.0% during the 1st quarter. Van ECK Associates Corp now owns 897,379 shares of the company’s stock worth $2,558,000 after buying an additional 227,908 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Lucid Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after acquiring an additional 489,187 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Lucid Group by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,728,829 shares of the company’s stock valued at $11,488,000 after purchasing an additional 195,519 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Lucid Group during the fourth quarter worth approximately $105,000. Finally, Private Advisor Group LLC lifted its holdings in Lucid Group by 36.2% during the 4th quarter. Private Advisor Group LLC now owns 121,305 shares of the company’s stock worth $511,000 after purchasing an additional 32,267 shares during the last quarter. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Lucid Group Stock Down 4.3 %

Shares of LCID opened at $3.77 on Tuesday. The firm has a 50 day simple moving average of $3.54 and a two-hundred day simple moving average of $3.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.96 and a quick ratio of 3.45. Lucid Group, Inc. has a one year low of $2.29 and a one year high of $5.90. The company has a market cap of $8.70 billion, a P/E ratio of -2.97 and a beta of 1.05.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 55.35% and a negative net margin of 390.39%. The business had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. During the same period last year, the firm posted ($0.40) EPS. Lucid Group’s quarterly revenue was up 32.9% on a year-over-year basis. Research analysts forecast that Lucid Group, Inc. will post -1.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on LCID. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a report on Monday, July 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 price target on shares of Lucid Group in a research report on Monday, September 9th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Wednesday, September 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 target price on shares of Lucid Group in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.71.

Insider Activity

In related news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the transaction, the senior vice president now directly owns 2,028,268 shares in the company, valued at approximately $6,368,761.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 61.26% of the stock is currently owned by corporate insiders.

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.