SBI Securities Co. Ltd. Reduces Position in Lucid Group, Inc. $LCID

SBI Securities Co. Ltd. decreased its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 86.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its position in Lucid Group by 9.7% during the second quarter. Valeo Financial Advisors LLC now owns 11,926 shares of the company’s stock valued at $25,000 after purchasing an additional 1,055 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in Lucid Group during the 2nd quarter valued at $29,000. Kingsview Wealth Management LLC purchased a new stake in Lucid Group during the 2nd quarter valued at $30,000. Cypress Wealth Services LLC bought a new position in shares of Lucid Group during the 2nd quarter valued at $32,000. Finally, Brown Advisory Inc. boosted its position in Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock worth $33,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

LCID has been the topic of a number of research reports. Stifel Nicolaus reduced their price objective on Lucid Group from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lucid Group in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lucid Group in a report on Monday, December 29th. Morgan Stanley lowered Lucid Group from a “buy” rating to an “underweight” rating and dropped their target price for the company from $30.00 to $10.00 in a research report on Monday, December 8th. Finally, Royal Bank Of Canada reduced their price target on Lucid Group from $20.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $18.92.

Lucid Group Trading Up 14.0%

LCID opened at $10.86 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $3.52 billion, a P/E ratio of -1.01 and a beta of 1.16. Lucid Group, Inc. has a 52 week low of $9.50 and a 52 week high of $35.90. The stock’s fifty day moving average is $11.43 and its two-hundred day moving average is $17.22.

Lucid Group 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.