Lucid Group, Inc. (NASDAQ:LCID) Stock Position Reduced by Mariner LLC

Mariner LLC lowered its position in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 56.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 98,455 shares of the company's stock after selling 129,582 shares during the period. Mariner LLC's holdings in Lucid Group were worth $297,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LCID. Sei Investments Co. grew its position in Lucid Group by 14.0% in the 4th quarter. Sei Investments Co. now owns 36,031 shares of the company's stock valued at $109,000 after acquiring an additional 4,431 shares during the last quarter. Arizona State Retirement System raised its holdings in Lucid Group by 1.9% in the fourth quarter. Arizona State Retirement System now owns 270,753 shares of the company's stock worth $818,000 after purchasing an additional 5,022 shares in the last quarter. GAMMA Investing LLC boosted its stake in Lucid Group by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock valued at $36,000 after acquiring an additional 5,031 shares in the last quarter. SG Americas Securities LLC boosted its stake in Lucid Group by 3.4% in the 4th quarter. SG Americas Securities LLC now owns 157,160 shares of the company's stock worth $475,000 after purchasing an additional 5,121 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Lucid Group by 46.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,706 shares of the company's stock valued at $63,000 after purchasing an additional 6,577 shares during the period. Hedge funds and other institutional investors own 75.17% of the company's stock.

Analyst Ratings Changes

LCID has been the topic of several recent analyst reports. Bank of America lowered shares of Lucid Group from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $3.00 to $1.00 in a research note on Wednesday, February 26th. Morgan Stanley raised Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 target price on the stock in a research report on Tuesday, March 18th. Cantor Fitzgerald restated a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a report on Thursday, April 3rd. Robert W. Baird raised their target price on shares of Lucid Group from $2.00 to $3.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Finally, Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $3.50 to $1.13 in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.68.

Lucid Group Stock Performance

Shares of NASDAQ:LCID traded down $0.17 during trading hours on Monday, hitting $2.36. The stock had a trading volume of 143,897,622 shares, compared to its average volume of 64,531,748. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The stock's fifty day simple moving average is $2.35 and its 200 day simple moving average is $2.55. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of -1.76 and a beta of 0.88.

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.