Legal & General Group Plc Lowers Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Legal & General Group Plc lowered its stake in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 948,346 shares of the company's stock after selling 190,777 shares during the quarter. Legal & General Group Plc's holdings in Lucid Group were worth $2,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of Lucid Group in the 4th quarter worth $28,000. Proficio Capital Partners LLC bought a new stake in Lucid Group in the 4th quarter worth about $31,000. First National Corp MA ADV bought a new stake in Lucid Group in the 4th quarter worth about $32,000. Yousif Capital Management LLC purchased a new stake in Lucid Group in the 4th quarter valued at about $32,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Lucid Group during the 4th quarter worth approximately $32,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LCID. Stifel Nicolaus dropped their price target on Lucid Group from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. TD Cowen began coverage on shares of Lucid Group in a report on Friday, March 7th. They issued a "hold" rating and a $2.30 price target on the stock. Cowen started coverage on shares of Lucid Group in a report on Thursday, March 6th. They set a "hold" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target on the stock in a report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Lucid Group currently has a consensus rating of "Hold" and an average price target of $2.68.

Lucid Group Price Performance

Shares of LCID stock traded up $0.05 on Friday, reaching $2.50. The company's stock had a trading volume of 65,364,869 shares, compared to its average volume of 62,518,679. The company has a market capitalization of $7.58 billion, a P/E ratio of -1.87 and a beta of 0.88. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. The stock's 50 day simple moving average is $2.41 and its 200-day simple moving average is $2.60. Lucid Group, Inc. has a 12-month low of $1.93 and a 12-month high of $4.43.

Lucid Group 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.