Ballentine Partners LLC Sells 15,126 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Ballentine Partners LLC lessened its stake in Lucid Group, Inc. (NASDAQ:LCID) by 44.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,581 shares of the company’s stock after selling 15,126 shares during the quarter. Ballentine Partners LLC’s holdings in Lucid Group were worth $56,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedge Capital Management L L P NC bought a new position in shares of Lucid Group during the 4th quarter valued at about $33,000. Fermata Advisors LLC acquired a new stake in Lucid Group in the 4th quarter valued at about $144,000. Everence Capital Management Inc. bought a new position in Lucid Group during the fourth quarter worth about $151,000. GAMMA Investing LLC increased its position in Lucid Group by 73.7% during the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $36,000 after buying an additional 5,031 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its position in Lucid Group by 27.8% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company’s stock worth $62,000 after buying an additional 3,816 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on LCID shares. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada decreased their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Tuesday, January 7th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, November 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.04.

Lucid Group Price Performance

LCID stock opened at $2.79 on Monday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The stock has a market capitalization of $8.40 billion, a PE ratio of -2.08 and a beta of 0.94. The company’s 50-day moving average is $2.69 and its 200-day moving average is $3.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26.

Lucid Group (NASDAQ:LCID) last posted its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.09). Lucid Group had a negative return on equity of 74.67% and a negative net margin of 406.63%. The business had revenue of $200.04 million during the quarter, compared to analyst estimates of $199.50 million. During the same quarter in the prior year, the company earned ($0.28) EPS. Equities research analysts expect that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Lucid Group

In other news, Director Public Investment Fund bought 374,717,927 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -102.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 61.26% of the company’s stock.

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.