Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 34.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,023 shares of the company’s stock after selling 12,856 shares during the quarter. Lindbrook Capital LLC’s holdings in Lucid Group were worth $73,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Lucid Group during the fourth quarter valued at about $28,000. Proficio Capital Partners LLC acquired a new position in shares of Lucid Group during the fourth quarter valued at about $31,000. First National Corp MA ADV acquired a new position in shares of Lucid Group during the fourth quarter valued at about $32,000. Yousif Capital Management LLC acquired a new position in shares of Lucid Group during the fourth quarter valued at about $32,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Lucid Group during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Trading Up 2.9 %

Lucid Group stock opened at $2.15 on Friday. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.43. The stock’s 50 day simple moving average is $2.85 and its two-hundred day simple moving average is $2.92. The firm has a market cap of $6.48 billion, a PE ratio of -1.60 and a beta of 0.97.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LCID shares. Bank of America downgraded shares of Lucid Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.00 to $1.00 in a report on Wednesday, February 26th. Royal Bank of Canada cut 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 report on Tuesday, November 19th. Stifel Nicolaus cut their price target on shares of Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. TD Cowen started coverage on shares of Lucid Group in a report on Friday. They issued a “hold” rating and a $2.30 price target on the stock. Finally, 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 report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.69.

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.