Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCID) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 298,173 shares of the company’s stock after selling 27,205 shares during the period. Tidal Investments LLC’s holdings in Lucid Group were worth $1,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Lucid Group during the 2nd quarter worth approximately $26,000. Frank Rimerman Advisors LLC increased its position in shares of Lucid Group by 925.0% during the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after acquiring an additional 9,250 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in shares of Lucid Group by 34.9% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock valued at $36,000 after acquiring an additional 3,549 shares during the period. Lake Street Advisors Group LLC acquired a new position in shares of Lucid Group in the 2nd quarter worth approximately $38,000. Finally, Crumly & Associates Inc. purchased a new position in shares of Lucid Group during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Wall Street Analyst Weigh In

LCID has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Royal Bank of Canada lowered their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. Robert W. Baird reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday, October 7th. Cfra set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. Finally, R. F. Lafferty upgraded shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.16.

Insider Activity

In other news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the purchase, the director now owns 8,041,393 shares in the company, valued at $20,827,207.87. This represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 61.26% of the company’s stock.

Lucid Group Stock Performance

Shares of LCID stock opened at $2.63 on Friday. Lucid Group, Inc. has a 12 month low of $1.93 and a 12 month high of $4.69. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. The company has a market cap of $7.92 billion, a P/E ratio of -1.96 and a beta of 1.08. The firm has a fifty day moving average price of $2.40 and a 200 day moving average price of $2.98.

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.