Lucid Group, Inc. $LCID Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 53.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,125 shares of the company’s stock after selling 111,861 shares during the period. Hsbc Holdings PLC’s holdings in Lucid Group were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Leonteq Securities AG bought a new position in shares of Lucid Group during the fourth quarter valued at approximately $67,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Lucid Group in the 4th quarter worth approximately $77,000. Eurizon Capital SGR S.p.A. acquired a new position in Lucid Group during the 4th quarter valued at approximately $86,000. HITE Hedge Asset Management LLC acquired a new position in Lucid Group during the 3rd quarter valued at approximately $212,000. Finally, Vance Wealth LLC bought a new position in Lucid Group during the 4th quarter worth $106,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LCID shares. Citigroup reaffirmed a “buy” rating and issued a $14.00 target price (down from $17.00) on shares of Lucid Group in a research report on Friday, May 15th. Morgan Stanley set a $5.00 price target on shares of Lucid Group in a research report on Wednesday, May 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Lucid Group in a report on Monday, May 4th. Benchmark downgraded shares of Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, TD Cowen reduced their target price on shares of Lucid Group from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.56.

Key Lucid Group News

Here are the key news stories impacting Lucid Group this week:

• Negative Sentiment: Multiple law firms, including Rosen, Kaplan Fox, Glancy Prongay, Faruqi & Faruqi, Levi & Korsinsky, and Bronstein, Gewirtz & Grossman, issued fresh reminders about the July 28 lead-plaintiff deadline in the Lucid securities class action, keeping legal risk and investor uncertainty front and center. Article Title
• Negative Sentiment: The lawsuits cite alleged supplier-quality misrepresentations that reportedly disrupted Lucid Gravity deliveries for 29 days, which could raise concerns about execution, operations, and potential damages. Article Title
• Neutral Sentiment: A separate market roundup flagged LCID as a potential short-squeeze candidate, which may reflect elevated bearish positioning, but it is not a company-specific catalyst on its own. Article Title

Lucid Group Price Performance

Shares of LCID opened at $5.53 on Tuesday. Lucid Group, Inc. has a one year low of $4.47 and a one year high of $33.70. The stock’s fifty day moving average is $5.80 and its 200-day moving average is $8.41. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.48 and a current ratio of 1.02. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -0.42 and a beta of 0.83.

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.