Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of Lucid Group, Inc. (NASDAQ:LCID) by 18.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,415 shares of the company’s stock after selling 6,349 shares during the quarter. KBC Group NV’s holdings in Lucid Group were worth $97,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Lucid Group during the second quarter worth about $26,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group in the 2nd quarter valued at approximately $27,000. Frank Rimerman Advisors LLC boosted its stake in shares of Lucid Group by 925.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after buying an additional 9,250 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Lucid Group during the second quarter worth $34,000. Finally, Pine Valley Investments Ltd Liability Co raised its position in Lucid Group by 34.9% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 13,710 shares of the company’s stock worth $36,000 after acquiring an additional 3,549 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Price 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 business’s fifty day moving average price is $2.83 and its two-hundred day moving average price is $3.04. The stock has a market cap of $6.32 billion, a PE ratio of -1.57 and a beta of 1.11. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $5.31.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LCID. Robert W. Baird restated a “neutral” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, October 7th. Cantor Fitzgerald restated a “neutral” rating and set a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Royal Bank of Canada reduced their price target on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Tuesday. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Monday, November 11th. Finally, Cfra set a $2.00 price objective on Lucid Group in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.16.

Insider Activity

In other news, Director Public Investment Fund acquired 374,717,927 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $2.59 per share, with a total value of $970,519,430.93. Following the completion of the transaction, 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 at this hyperlink. Company insiders own 61.26% of the company’s stock.

About Lucid Group

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.