Signaturefd LLC Trims Holdings in Lucid Group, Inc. (NASDAQ:LCID)

Signaturefd LLC lessened its position in Lucid Group, Inc. (NASDAQ:LCID) by 69.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,135 shares of the company’s stock after selling 25,358 shares during the period. Signaturefd LLC’s holdings in Lucid Group were worth $34,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Lucid Group by 84.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,096,667 shares of the company’s stock valued at $17,991,000 after purchasing an additional 2,335,452 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Lucid Group by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 263,401 shares of the company’s stock valued at $930,000 after acquiring an additional 6,374 shares during the last quarter. FMR LLC lifted its holdings in shares of Lucid Group by 47.5% during the 3rd quarter. FMR LLC now owns 149,987 shares of the company’s stock worth $529,000 after acquiring an additional 48,304 shares during the period. Townsquare Capital LLC acquired a new stake in shares of Lucid Group in the third quarter worth approximately $75,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Lucid Group by 43.6% in the third quarter. Rockefeller Capital Management L.P. now owns 117,764 shares of the company’s stock worth $416,000 after acquiring an additional 35,766 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LCID shares. Cowen assumed coverage on shares of Lucid Group in a research note on Thursday, March 6th. They set a “hold” rating on the stock. Morgan Stanley upgraded Lucid Group from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective for the company in a report on Tuesday, March 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a report on Wednesday, February 26th. Redburn Atlantic lowered Lucid Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.50 to $1.13 in a research note on Monday, February 24th. Finally, Stifel Nicolaus reduced their price objective on Lucid Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.69.

Lucid Group Trading Down 1.6 %

LCID opened at $2.43 on Wednesday. The firm’s 50 day moving average is $2.65 and its 200-day moving average is $2.77. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $4.43. 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 firm has a market capitalization of $7.37 billion, a P/E ratio of -1.81 and a beta of 0.97.

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.