EP Wealth Advisors LLC Increases Stock Holdings in Lucid Group, Inc. (NASDAQ:LCID)

EP Wealth Advisors LLC lifted its stake in shares of Lucid Group, Inc. (NASDAQ:LCIDGet Rating) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,127 shares of the company’s stock after buying an additional 1,057 shares during the period. EP Wealth Advisors LLC’s holdings in Lucid Group were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LCID. 1832 Asset Management L.P. purchased a new position in Lucid Group in the first quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in Lucid Group in the first quarter worth $29,000. First Manhattan Co. boosted its position in Lucid Group by 666.7% in the first quarter. First Manhattan Co. now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. Tradition Wealth Management LLC boosted its position in Lucid Group by 1,048.1% in the first quarter. Tradition Wealth Management LLC now owns 1,194 shares of the company’s stock worth $30,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in Lucid Group in the first quarter worth $32,000. Hedge funds and other institutional investors own 70.31% of the company’s stock.

Lucid Group Stock Performance

NASDAQ:LCID opened at 11.26 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.21 and a current ratio of 5.04. Lucid Group, Inc. has a 52-week low of 10.89 and a 52-week high of 57.44. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of -7.93 and a beta of 0.62. The business’s fifty day moving average is 13.75 and its 200 day moving average is 16.48.

Analysts Set New Price Targets

LCID has been the topic of several research reports. Cantor Fitzgerald initiated coverage on Lucid Group in a research note on Tuesday, September 27th. They issued an “overweight” rating and a $23.00 target price on the stock. Citigroup restated a “buy” rating and issued a $28.00 target price on shares of Lucid Group in a research note on Thursday, September 15th. R. F. Lafferty lowered their target price on Lucid Group from $19.00 to $17.00 in a research note on Thursday, November 10th. Morgan Stanley lowered their target price on Lucid Group from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, November 10th. Finally, Needham & Company LLC initiated coverage on Lucid Group in a research note on Wednesday, September 14th. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of 26.83.

Lucid Group Company Profile

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Lucid Group, Inc a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc was founded in 2007 and is headquartered in Newark, California.

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Institutional Ownership by Quarter for Lucid Group (NASDAQ:LCID)

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