GM Advisory Group LLC Sells 15,000 Shares of Lucid Group, Inc. (NASDAQ:LCID)

GM Advisory Group LLC lessened its stake in Lucid Group, Inc. (NASDAQ:LCID) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,549 shares of the company’s stock after selling 15,000 shares during the period. GM Advisory Group LLC’s holdings in Lucid Group were worth $553,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LCID. Charles Schwab Investment Management Inc. boosted its stake in shares of Lucid Group by 84.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock worth $17,991,000 after acquiring an additional 2,335,452 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lucid Group by 27.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,681,982 shares of the company’s stock worth $7,000,000 after acquiring an additional 581,082 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Lucid Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 83,740,087 shares of the company’s stock worth $238,659,000 after acquiring an additional 489,187 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Lucid Group by 946.6% during the 1st quarter. Janus Henderson Group PLC now owns 524,662 shares of the company’s stock valued at $1,493,000 after buying an additional 474,534 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Lucid Group by 131.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company’s stock valued at $1,097,000 after buying an additional 238,628 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Insider Transactions at Lucid Group

In other Lucid Group news, Director Public Investment Fund bought 374,717,927 shares of Lucid Group stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the acquisition, the director now directly owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This represents a -102.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 61.26% of the company’s stock.

Lucid Group Stock Performance

Shares of NASDAQ LCID opened at $2.10 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The company has a market cap of $6.32 billion, a P/E ratio of -1.57 and a beta of 1.11. The firm’s fifty day moving average is $2.83 and its two-hundred day moving average is $3.04. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $5.31.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. Royal Bank of Canada lowered their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Robert W. Baird restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. Finally, Cfra set a $2.00 target price on shares of Lucid Group in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Lucid Group presently has a consensus rating of “Hold” and an average target price of $3.16.

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.