Charles Schwab Investment Advisory Inc. acquired a new position in Lucid Group, Inc. (NASDAQ:LCID – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm acquired 11,731 shares of the company’s stock, valued at approximately $49,000.
Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC purchased a new stake in Lucid Group during the 4th quarter worth approximately $28,000. UniSuper Management Pty Ltd raised its holdings in Lucid Group by 127.6% in the third quarter. UniSuper Management Pty Ltd now owns 6,600 shares of the company’s stock valued at $37,000 after acquiring an additional 3,700 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Lucid Group during the 3rd quarter valued at $38,000. Tyche Wealth Partners LLC acquired a new position in Lucid Group during the 4th quarter worth $43,000. Finally, MGO Private Wealth LLC bought a new stake in shares of Lucid Group in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
Lucid Group Stock Performance
NASDAQ:LCID traded down $0.43 during mid-day trading on Tuesday, hitting $2.62. The stock had a trading volume of 37,387,414 shares, compared to its average volume of 33,246,922. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $3.49. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -1.87 and a beta of 1.04. Lucid Group, Inc. has a 52 week low of $2.29 and a 52 week high of $8.37.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research note on Tuesday. Cantor Fitzgerald downgraded Lucid Group from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $6.00 to $4.00 in a report on Thursday, February 22nd. Citigroup restated a “neutral” rating and set a $2.90 price objective on shares of Lucid Group in a research note on Monday, April 22nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research note on Monday, March 25th. Finally, Robert W. Baird reduced their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Lucid Group presently has an average rating of “Hold” and an average target price of $4.34.
Read Our Latest 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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