Alpine Global Management LLC reduced its stake in shares of Lucid Group, Inc. (NASDAQ:LCID – Free Report) by 39.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,500 shares of the company’s stock after selling 37,716 shares during the quarter. Alpine Global Management LLC’s holdings in Lucid Group were worth $164,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. EP Wealth Advisors LLC raised its position in shares of Lucid Group by 47.8% in the first quarter. EP Wealth Advisors LLC now owns 32,729 shares of the company’s stock valued at $93,000 after purchasing an additional 10,585 shares during the period. Pitcairn Co. boosted its stake in Lucid Group by 139.3% during the first quarter. Pitcairn Co. now owns 46,736 shares of the company’s stock worth $133,000 after buying an additional 27,205 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Lucid Group by 42.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,438,897 shares of the company’s stock worth $6,951,000 after buying an additional 732,463 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 489,187 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Lucid Group in the 1st quarter valued at $42,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.
Lucid Group Trading Down 2.3 %
Shares of LCID stock traded down $0.08 on Friday, reaching $3.38. The company had a trading volume of 27,079,379 shares, compared to its average volume of 44,805,940. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. The stock has a market cap of $7.80 billion, a PE ratio of -2.66 and a beta of 1.04. The company has a 50-day moving average of $2.96 and a 200-day moving average of $2.95. Lucid Group, Inc. has a 12 month low of $2.29 and a 12 month high of $7.75.
Wall Street Analyst Weigh In
LCID has been the topic of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “underweight” rating and set a $4.00 price target on shares of Lucid Group in a research report on Monday, July 22nd. Robert W. Baird reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research report on Monday, July 8th. Stifel Nicolaus reduced their price target on shares of Lucid Group from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Finally, Citigroup reiterated a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Lucid Group has an average rating of “Hold” and a consensus target price of $4.14.
Read Our Latest Report on LCID
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.
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