Lucid Group, Inc. $LCID Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. decreased its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 86.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,401 shares of the company’s stock after selling 105,226 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Lucid Group were worth $390,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in Lucid Group by 2,398.5% in the second quarter. Marshall Wace LLP now owns 12,652,537 shares of the company’s stock worth $26,697,000 after acquiring an additional 12,146,136 shares in the last quarter. Norges Bank acquired a new position in shares of Lucid Group during the second quarter valued at about $16,469,000. Linden Advisors LP purchased a new position in shares of Lucid Group in the 2nd quarter valued at approximately $9,885,000. Marex Group plc acquired a new stake in Lucid Group in the 2nd quarter worth approximately $7,613,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lucid Group by 39.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,309,476 shares of the company’s stock worth $25,973,000 after purchasing an additional 3,465,542 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Stock Performance

Shares of NASDAQ:LCID opened at $10.86 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.81 and a quick ratio of 1.34. Lucid Group, Inc. has a 1 year low of $9.50 and a 1 year high of $35.90. The firm has a market capitalization of $3.52 billion, a PE ratio of -1.01 and a beta of 1.16. The business’s 50 day moving average price is $11.43 and its 200-day moving average price is $17.22.

Analyst Ratings Changes

A number of research analysts have issued reports on LCID shares. Morgan Stanley cut shares of Lucid Group from a “buy” rating to an “underweight” rating and decreased their price target for the stock from $30.00 to $10.00 in a report on Monday, December 8th. Robert W. Baird set a $14.00 target price on Lucid Group in a research note on Tuesday, January 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Group in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Lucid Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $18.92.

Lucid Group Company Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.