Lucid Group, Inc. (NASDAQ:LCID) Stock Position Lowered by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in Lucid Group, Inc. (NASDAQ:LCID) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,974 shares of the company’s stock after selling 19,009 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lucid Group were worth $640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LCID. Charles Schwab Investment Management Inc. lifted its position 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 worth $17,991,000 after buying an additional 2,335,452 shares in the last quarter. Point72 Italy S.r.l. purchased a new stake in Lucid Group in the 3rd quarter worth approximately $3,209,000. Nisa Investment Advisors LLC lifted its position in Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company’s stock worth $771,000 after buying an additional 249,500 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Lucid Group during the 3rd quarter worth $863,000. Finally, Centiva Capital LP acquired a new position in shares of Lucid Group during the 3rd quarter worth $824,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.87 on Thursday. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The firm’s fifty day simple moving average is $2.86 and its 200 day simple moving average is $2.98. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $8.64 billion, a PE ratio of -2.14 and a beta of 0.93.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Cfra set a $2.00 price target on shares of Lucid Group in a research note on Thursday, October 17th. Benchmark assumed coverage on shares of Lucid Group in a research note on Wednesday. They set a “buy” rating and a $5.00 price target on the stock. R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Finally, Royal Bank of Canada dropped their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.24.

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.