Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 60.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,387,392 shares of the company’s stock after selling 2,086,501 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of Lucid Group worth $3,623,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caas Capital Management LP acquired a new position in shares of Lucid Group in the 4th quarter valued at $148,000. Royal London Asset Management Ltd. raised its holdings in Lucid Group by 2.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 290,103 shares of the company’s stock worth $1,221,000 after purchasing an additional 5,627 shares during the period. Vanguard Group Inc. grew its holdings in Lucid Group by 12.4% in the fourth quarter. Vanguard Group Inc. now owns 83,250,900 shares of the company’s stock valued at $350,486,000 after purchasing an additional 9,175,312 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Lucid Group by 24.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company’s stock valued at $7,184,000 after buying an additional 334,923 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Lucid Group during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Trading Down 1.8 %

Shares of Lucid Group stock opened at $3.33 on Friday. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -2.62 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.45 and a current ratio of 3.96. Lucid Group, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.48. The stock has a 50 day moving average of $3.53 and a 200 day moving average of $3.09.

Lucid Group (NASDAQ:LCID) last posted its 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 net margin of 390.39% and a negative return on equity of 55.35%. The company had revenue of $200.58 million during the quarter, compared to analyst estimates of $190.30 million. During the same period in the previous year, the company earned ($0.40) EPS. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. As a group, research analysts predict that Lucid Group, Inc. will post -1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LCID. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a report on Thursday, September 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a report on Tuesday. Robert W. Baird restated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research report on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.71.

Insiders Place Their Bets

In other news, SVP Eric Bach sold 89,959 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $3.14, for a total transaction of $282,471.26. Following the sale, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 61.26% of the stock is owned by company insiders.

About Lucid Group

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.