Raymond James & Associates decreased its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID – Free Report) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,586 shares of the company’s stock after selling 18,418 shares during the quarter. Raymond James & Associates’ holdings in Lucid Group were worth $819,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alps Advisors Inc. boosted its stake in Lucid Group by 19.8% in the 3rd quarter. Alps Advisors Inc. now owns 3,301,011 shares of the company’s stock worth $18,453,000 after buying an additional 546,676 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lucid Group by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 4,215,104 shares of the company’s stock worth $23,562,000 after acquiring an additional 410,025 shares during the last quarter. Fulton Bank N.A. grew its holdings in Lucid Group by 46.5% in the fourth quarter. Fulton Bank N.A. now owns 63,511 shares of the company’s stock valued at $267,000 after purchasing an additional 20,168 shares during the period. Invesco Ltd. increased its position in Lucid Group by 41.8% during the third quarter. Invesco Ltd. now owns 5,986,732 shares of the company’s stock worth $33,466,000 after purchasing an additional 1,763,443 shares during the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in Lucid Group during the third quarter worth approximately $544,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.
Lucid Group Stock Performance
Shares of NASDAQ:LCID opened at $2.38 on Tuesday. The business’s 50-day simple moving average is $2.93 and its 200 day simple moving average is $3.66. The company has a market cap of $5.47 billion, a P/E ratio of -1.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. Lucid Group, Inc. has a one year low of $2.31 and a one year high of $8.37.
Analyst Ratings Changes
Several analysts have recently issued reports on LCID shares. Morgan Stanley reissued an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Bank of America lowered their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Robert W. Baird cut their price objective on Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $6.00 to $4.00 in a report on Thursday, February 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Lucid Group currently has an average rating of “Hold” and a consensus price target of $4.34.
View Our Latest Stock Analysis on LCID
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.
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