Lucid Group, Inc. (NASDAQ:LCID) SVP Michael Bell Sells 46,735 Shares

Lucid Group, Inc. (NASDAQ:LCID) SVP Michael Bell sold 46,735 shares of Lucid Group stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $6.01, for a total transaction of $280,877.35. Following the completion of the transaction, the senior vice president now owns 1,437,293 shares in the company, valued at approximately $8,638,130.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Lucid Group Price Performance

NASDAQ LCID traded down $0.28 during trading hours on Monday, reaching $5.64. The company’s stock had a trading volume of 27,034,199 shares, compared to its average volume of 33,018,227. The company has a debt-to-equity ratio of 0.35, a quick ratio of 6.11 and a current ratio of 7.07. The business has a 50-day simple moving average of $6.62 and a 200 day simple moving average of $7.10. Lucid Group, Inc. has a 52 week low of $5.46 and a 52 week high of $17.81.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). The company had revenue of $150.90 million during the quarter, compared to the consensus estimate of $181.58 million. Lucid Group had a negative return on equity of 64.02% and a negative net margin of 337.97%. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period last year, the business posted ($0.33) EPS. As a group, equities research analysts expect that Lucid Group, Inc. will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of Lucid Group by 81.8% during the second quarter. California State Teachers Retirement System now owns 1,371,072 shares of the company’s stock valued at $9,447,000 after buying an additional 616,797 shares during the last quarter. Osaic Holdings Inc. raised its stake in Lucid Group by 8.4% during the 2nd quarter. Osaic Holdings Inc. now owns 245,246 shares of the company’s stock valued at $1,699,000 after acquiring an additional 18,923 shares in the last quarter. Alliancebernstein L.P. boosted its position in Lucid Group by 72.0% during the 2nd quarter. Alliancebernstein L.P. now owns 305,619 shares of the company’s stock worth $2,106,000 after acquiring an additional 127,975 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Lucid Group by 16.7% in the second quarter. Public Employees Retirement System of Ohio now owns 337,102 shares of the company’s stock worth $2,323,000 after purchasing an additional 48,342 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Lucid Group by 27.1% during the second quarter. Integrated Wealth Concepts LLC now owns 26,171 shares of the company’s stock valued at $180,000 after purchasing an additional 5,585 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on LCID. Citigroup reduced their target price on Lucid Group from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Robert W. Baird began coverage on Lucid Group in a report on Tuesday, September 5th. They set a “neutral” rating and a $7.00 target price for the company. Needham & Company LLC decreased their price objective on shares of Lucid Group from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. BNP Paribas lowered Lucid Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $6.50 to $5.00 in a research report on Friday, August 11th. Finally, Bank of America initiated coverage on shares of Lucid Group in a research note on Monday, July 17th. They set a “neutral” rating and a $8.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.15.

About Lucid Group

Lucid Group, Inc a technology and automotive company, engages in electric vehicle technologies business. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California. Lucid Group, Inc operates as a subsidiary of Ayar Third Investment Company.