Integrated Wealth Concepts LLC Sells 5,778 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Integrated Wealth Concepts LLC cut its stake in Lucid Group, Inc. (NASDAQ:LCID) by 29.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,749 shares of the company’s stock after selling 5,778 shares during the period. Integrated Wealth Concepts LLC’s holdings in Lucid Group were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LCID. Vanguard Group Inc. grew its stake in Lucid Group by 31.1% in the 4th quarter. Vanguard Group Inc. now owns 110,318,727 shares of the company’s stock worth $333,163,000 after acquiring an additional 26,172,852 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lucid Group by 31.4% during the 4th quarter. Geode Capital Management LLC now owns 20,263,309 shares of the company’s stock worth $61,214,000 after purchasing an additional 4,844,782 shares during the period. Renaissance Technologies LLC raised its position in Lucid Group by 342.7% during the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company’s stock valued at $49,950,000 after purchasing an additional 12,803,987 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Lucid Group by 51.7% in the 4th quarter. First Trust Advisors LP now owns 10,261,050 shares of the company’s stock worth $30,988,000 after buying an additional 3,495,392 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lucid Group by 29.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,595,701 shares of the company’s stock worth $19,919,000 after buying an additional 1,499,034 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LCID has been the subject of a number of research reports. Robert W. Baird upped their price objective on shares of Lucid Group from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Redburn Atlantic lowered shares of Lucid Group from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.50 to $1.13 in a report on Monday, February 24th. Cowen assumed coverage on Lucid Group in a report on Thursday, March 6th. They set a “hold” rating for the company. TD Cowen assumed coverage on Lucid Group in a report on Friday, March 7th. They issued a “hold” rating and a $2.30 price target on the stock. Finally, Stifel Nicolaus reduced their price target on Lucid Group from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.68.

Lucid Group Trading Down 1.5 %

Lucid Group stock opened at $2.33 on Wednesday. Lucid Group, Inc. has a one year low of $1.93 and a one year high of $4.43. The stock has a market cap of $7.05 billion, a PE ratio of -1.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock has a 50-day moving average of $2.35 and a two-hundred day moving average of $2.55.

Lucid Group (NASDAQ:LCID) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $235.05 million during the quarter, compared to analysts’ expectations of $250.50 million. Lucid Group had a negative net margin of 406.63% and a negative return on equity of 74.67%. Lucid Group’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period last year, the business earned ($0.27) EPS. On average, research analysts anticipate that Lucid Group, Inc. will post -1.25 EPS for the current fiscal year.

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.