GM Advisory Group LLC Sells 15,000 Shares of Lucid Group, Inc. (NASDAQ:LCID)

GM Advisory Group LLC trimmed its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 156,549 shares of the company’s stock after selling 15,000 shares during the quarter. GM Advisory Group LLC’s holdings in Lucid Group were worth $553,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LCID. Charles Schwab Investment Management Inc. grew its holdings in Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Lucid Group by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock valued at $7,000,000 after buying an additional 581,082 shares during the period. Vanguard Group Inc. boosted its position in Lucid Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock valued at $238,659,000 after buying an additional 489,187 shares during the period. Janus Henderson Group PLC boosted its position in Lucid Group by 946.6% in the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after buying an additional 474,534 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Lucid Group by 131.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after buying an additional 238,628 shares during the period. 75.17% of the stock is currently owned by institutional investors.

Insider Transactions at Lucid Group

In other news, Director Public Investment Fund bought 374,717,927 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at approximately $20,827,207.87. The trade was a -102.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 61.26% of the company’s stock.

Lucid Group Price Performance

Shares of LCID opened at $2.10 on Friday. The company has a 50 day moving average price of $2.83 and a 200-day moving average price of $3.04. Lucid Group, Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $5.31. The stock has a market capitalization of $6.32 billion, a PE ratio of -1.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Analyst Upgrades and Downgrades

LCID has been the subject of several research reports. Cfra set a $2.00 price objective on shares of Lucid Group in a research report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a research report on Friday, November 8th. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price objective on shares of Lucid Group in a research report on Monday, October 7th. R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.16.

Lucid Group 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.