Handelsbanken Fonder AB cut its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID – Free Report) by 93.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,703 shares of the company’s stock after selling 434,942 shares during the period. Handelsbanken Fonder AB’s holdings in Lucid Group were worth $121,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LCID. Invesco Ltd. boosted its stake in shares of Lucid Group by 41.8% during the third quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock valued at $33,466,000 after purchasing an additional 1,763,443 shares in the last quarter. Jump Financial LLC bought a new position in shares of Lucid Group during the third quarter valued at approximately $6,230,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lucid Group by 10.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock valued at $48,109,000 after purchasing an additional 1,060,588 shares in the last quarter. abrdn plc boosted its stake in shares of Lucid Group by 95.3% during the fourth quarter. abrdn plc now owns 2,001,372 shares of the company’s stock valued at $8,426,000 after purchasing an additional 976,351 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Lucid Group by 1.2% during the third quarter. Vanguard Group Inc. now owns 74,075,588 shares of the company’s stock valued at $414,083,000 after purchasing an additional 913,415 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.
Lucid Group Trading Up 0.2 %
NASDAQ:LCID opened at $2.79 on Friday. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $8.37. The firm has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $3.53. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.41 billion, a P/E ratio of -1.99 and a beta of 1.04.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Bank of America lowered their target price on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Robert W. Baird lowered their target price on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Citigroup restated a “neutral” rating and issued a $2.90 target price on shares of Lucid Group in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.34.
View Our Latest Report on LCID
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.
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