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

Hsbc Holdings PLC trimmed its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 53.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other hedge funds have also modified their holdings of the business. Brown Advisory Inc. lifted its holdings in Lucid Group by 47.5% in the second quarter. Brown Advisory Inc. now owns 15,530 shares of the company’s stock valued at $33,000 after acquiring an additional 5,000 shares during the period. Jump Financial LLC purchased a new stake in shares of Lucid Group in the second quarter valued at about $41,000. Worldquant Millennium Advisors LLC acquired a new stake in Lucid Group during the 2nd quarter valued at $59,000. Leonteq Securities AG acquired a new stake in shares of Lucid Group during the fourth quarter valued at $67,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Lucid Group during the 4th quarter worth about $77,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Lucid Group

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 NASDAQ LCID opened at $5.53 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.48 and a debt-to-equity ratio of 3.00. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -0.42 and a beta of 0.83. Lucid Group, Inc. has a twelve month low of $4.47 and a twelve month high of $33.70. The business has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $8.41.

Analysts Set New Price Targets

A number of brokerages have recently commented on LCID. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Group in a research report on Wednesday, June 24th. Benchmark lowered shares of Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. TD Cowen lowered their target price on Lucid Group from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Citigroup reaffirmed a “buy” rating and set a $14.00 price target (down from $17.00) on shares of Lucid Group in a report on Friday, May 15th. Finally, Evercore set a $6.00 price objective on Lucid Group in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $9.56.

About Lucid Group

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.