Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in Lucid Group, Inc. (NASDAQ:LCID) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,418,527 shares of the company’s stock after selling 913,788 shares during the quarter. Geode Capital Management LLC owned approximately 0.66% of Lucid Group worth $54,441,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LCID. M&T Bank Corp increased its holdings in Lucid Group by 46.0% in the third quarter. M&T Bank Corp now owns 222,335 shares of the company’s stock valued at $785,000 after buying an additional 70,079 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Lucid Group in the 3rd quarter valued at about $121,000. Main Management ETF Advisors LLC acquired a new stake in shares of Lucid Group during the 3rd quarter worth about $863,000. Orion Portfolio Solutions LLC purchased a new stake in Lucid Group during the third quarter worth approximately $84,000. Finally, XTX Topco Ltd boosted its holdings in Lucid Group by 552.2% in the third quarter. XTX Topco Ltd now owns 171,294 shares of the company’s stock valued at $605,000 after purchasing an additional 145,031 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on LCID shares. Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 price objective on shares of Lucid Group in a report on Tuesday, October 8th. Cfra set a $2.00 price target on shares of Lucid Group in a research report on Thursday, October 17th. Royal Bank of Canada dropped their price objective on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lucid Group in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.16.

Insider Activity at Lucid Group

In other news, Director Public Investment Fund acquired 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $2.59 per share, for a total transaction 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 trade represents a -102.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 61.26% of the stock is currently owned by insiders.

Lucid Group Stock Up 14.8 %

LCID opened at $3.02 on Monday. Lucid Group, Inc. has a 52 week low of $1.93 and a 52 week high of $4.49. 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 business has a 50 day moving average price of $2.39 and a two-hundred day moving average price of $2.99. The company has a market cap of $9.10 billion, a PE ratio of -2.25 and a beta of 1.08.

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.