Invesco Ltd. Has $5.89 Million Stake in Lucid Group, Inc. (NASDAQ:LCID)

Invesco Ltd. trimmed its position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,949,754 shares of the company's stock after selling 1,110,022 shares during the period. Invesco Ltd. owned approximately 0.06% of Lucid Group worth $5,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of LCID. B. Riley Wealth Advisors Inc. increased its position in shares of Lucid Group by 14.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 65,191 shares of the company's stock worth $226,000 after purchasing an additional 8,074 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its position in shares of Lucid Group by 27.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,526 shares of the company's stock valued at $62,000 after buying an additional 3,816 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock worth $36,000 after acquiring an additional 5,031 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Lucid Group in the fourth quarter valued at approximately $151,000. Finally, Fermata Advisors LLC bought a new position in shares of Lucid Group during the fourth quarter valued at approximately $144,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Group Stock Performance

NASDAQ:LCID traded up $0.05 during mid-day trading on Friday, hitting $2.50. The stock had a trading volume of 65,364,869 shares, compared to its average volume of 62,909,093. Lucid Group, Inc. has a twelve month low of $1.93 and a twelve month high of $4.43. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of -1.87 and a beta of 0.88. The company's 50 day simple moving average is $2.40 and its 200 day simple moving average is $2.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71.

Wall Street Analyst Weigh In

LCID has been the subject of a number of analyst reports. Bank of America lowered shares of Lucid Group from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price target on shares of Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. TD Cowen started coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target for the company. Redburn Atlantic cut shares of Lucid Group from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Cowen initiated coverage on shares of Lucid Group in a research note on Thursday, March 6th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Lucid Group presently has an average rating of "Hold" and a consensus price target of $2.68.

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.