Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in shares of Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 60.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,387,392 shares of the company's stock after selling 2,086,501 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of Lucid Group worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LCID. Van ECK Associates Corp boosted its stake in shares of Lucid Group by 34.0% during the first quarter. Van ECK Associates Corp now owns 897,379 shares of the company's stock valued at $2,558,000 after purchasing an additional 227,908 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Lucid Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company's stock valued at $238,659,000 after buying an additional 489,187 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lucid Group by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company's stock valued at $1,242,000 after buying an additional 23,752 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Lucid Group by 24.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,706,434 shares of the company's stock worth $7,184,000 after buying an additional 334,923 shares during the last quarter. Finally, Caas Capital Management LP bought a new position in shares of Lucid Group during the 4th quarter worth approximately $148,000. Institutional investors own 75.17% of the company's stock.

Lucid Group Stock Performance

Shares of Lucid Group stock traded up $0.07 on Friday, reaching $3.40. 18,491,924 shares of the stock were exchanged, compared to its average volume of 32,515,781. The business has a 50 day moving average price of $3.53 and a two-hundred day moving average price of $3.09. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of -2.69 and a beta of 1.04. Lucid Group, Inc. has a twelve month low of $2.29 and a twelve month high of $5.38. The company has a quick ratio of 3.45, a current ratio of 3.96 and a debt-to-equity ratio of 0.59.

Lucid Group (NASDAQ:LCID - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $200.58 million for the quarter, compared to analyst estimates of $190.30 million. Lucid Group had a negative net margin of 390.39% and a negative return on equity of 55.35%. The business's revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. Analysts anticipate that Lucid Group, Inc. will post -1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LCID has been the subject of several recent analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $4.00 target price on shares of Lucid Group in a research note on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Lucid Group in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $3.00 price target on shares of Lucid Group in a research note on Thursday, September 12th. Finally, Robert W. Baird restated a "neutral" rating and set a $3.00 price target on shares of Lucid Group in a research note on Monday. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $3.71.

Insider Buying and Selling at Lucid Group

In other news, SVP Eric Bach sold 89,959 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.14, for a total value of $282,471.26. Following the completion of the transaction, the senior vice president now owns 2,028,268 shares of the company's stock, valued at $6,368,761.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 61.26% of the stock is owned by corporate insiders.

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.