Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC trimmed its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,589 shares of the company’s stock after selling 52,960 shares during the period. GM Advisory Group LLC’s holdings in Lucid Group were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group in the fourth quarter valued at about $28,000. Proficio Capital Partners LLC acquired a new stake in Lucid Group in the fourth quarter valued at approximately $31,000. First National Corp MA ADV purchased a new stake in shares of Lucid Group during the fourth quarter valued at approximately $32,000. Yousif Capital Management LLC acquired a new position in shares of Lucid Group during the fourth quarter worth $32,000. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Lucid Group in the fourth quarter valued at $32,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Trading Up 3.8 %

Lucid Group stock opened at $2.44 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.43. The firm’s 50-day moving average is $2.70 and its 200-day moving average is $2.82. The company has a market cap of $7.40 billion, a P/E ratio of -1.82 and a beta of 0.97.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LCID shares. Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th. Cantor Fitzgerald restated a “neutral” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Wednesday, February 26th. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and cut their target price for the company from $3.50 to $1.13 in a research report on Monday, February 24th. Finally, Stifel Nicolaus decreased their price target on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.69.

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.