Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its position in Lucid Group, Inc. (NASDAQ:LCID) by 55.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 78,805 shares of the company’s stock after selling 97,585 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lucid Group were worth $332,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Lucid Group by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 74,075,588 shares of the company’s stock worth $414,083,000 after purchasing an additional 913,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Lucid Group by 10.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,427,263 shares of the company’s stock worth $48,109,000 after purchasing an additional 1,060,588 shares during the period. Invesco Ltd. grew its stake in shares of Lucid Group by 41.8% during the 3rd quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock worth $33,466,000 after purchasing an additional 1,763,443 shares during the period. Northern Trust Corp grew its stake in shares of Lucid Group by 13.8% during the 3rd quarter. Northern Trust Corp now owns 5,203,969 shares of the company’s stock worth $29,090,000 after purchasing an additional 631,728 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Lucid Group by 5.2% during the 3rd quarter. Legal & General Group Plc now owns 5,096,665 shares of the company’s stock worth $28,492,000 after purchasing an additional 253,149 shares during the period. 75.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Robert W. Baird decreased their price objective on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Citigroup reiterated a “neutral” rating and issued a $2.90 price objective on shares of Lucid Group in a research report on Monday, April 22nd. Stifel Nicolaus decreased their price objective on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, March 25th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.34.

Lucid Group Price Performance

NASDAQ:LCID opened at $2.46 on Friday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -1.76 and a beta of 1.01. 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’s 50-day moving average is $2.85 and its two-hundred day moving average is $3.60. Lucid Group, Inc. has a 12-month low of $2.29 and a 12-month high of $8.37.

Lucid Group (NASDAQ:LCID) last released its earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The firm had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $179.88 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. Lucid Group’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) earnings per share. Research analysts expect that Lucid Group, Inc. will post -1.06 EPS for the current year.

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.