Lucid Group, Inc. (NASDAQ:LCID) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,181,754 shares of the company's stock after selling 259,595 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Lucid Group worth $7,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LCID. CWM LLC boosted its position in shares of Lucid Group by 24.6% in the third quarter. CWM LLC now owns 34,350 shares of the company's stock worth $121,000 after purchasing an additional 6,771 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Lucid Group by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 435,787 shares of the company's stock valued at $1,242,000 after purchasing an additional 23,752 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Lucid Group by 131.3% in the second quarter. Canada Pension Plan Investment Board now owns 420,428 shares of the company's stock worth $1,097,000 after buying an additional 238,628 shares in the last quarter. Signaturefd LLC grew its stake in Lucid Group by 39.8% during the third quarter. Signaturefd LLC now owns 36,493 shares of the company's stock valued at $129,000 after acquiring an additional 10,383 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Lucid Group in the second quarter worth about $83,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Public Investment Fund bought 374,717,927 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares of the company's stock, valued at approximately $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 61.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LCID shares. R. F. Lafferty raised Lucid Group from a "hold" rating to a "buy" rating and set a $4.00 price target for the company in a research note on Monday, November 11th. Needham & Company LLC reiterated a "hold" rating on shares of Lucid Group in a research report on Friday, November 8th. Royal Bank of Canada decreased their price target 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, November 19th. Cfra set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $3.16.

Lucid Group Stock Up 0.5 %

Shares of LCID traded up $0.01 during mid-day trading on Friday, hitting $2.18. The company's stock had a trading volume of 33,784,706 shares, compared to its average volume of 37,501,164. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -1.63 and a beta of 1.11. The company's 50-day moving average is $2.68 and its 200-day moving average is $3.02. The company has a current ratio of 3.71, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Lucid Group, Inc. has a 52-week low of $1.93 and a 52-week high of $5.31.

Lucid Group 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.