MML Investors Services LLC increased its stake in Lucid Group, Inc. (NASDAQ:LCID – Get Rating) by 18.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 12,386 shares of the company’s stock after buying an additional 1,891 shares during the quarter. MML Investors Services LLC’s holdings in Lucid Group were worth $173,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Lucid Group by 2.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 74,061 shares of the company’s stock worth $1,034,000 after buying an additional 1,467 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Lucid Group by 0.5% in the 2nd quarter. Swiss National Bank now owns 1,792,000 shares of the company’s stock worth $30,751,000 after buying an additional 9,300 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Lucid Group by 45.1% in the 3rd quarter. Korea Investment CORP now owns 156,413 shares of the company’s stock worth $2,185,000 after buying an additional 48,618 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Lucid Group in the 2nd quarter worth about $335,000. Finally, Virtu Financial LLC raised its stake in Lucid Group by 203.6% in the 2nd quarter. Virtu Financial LLC now owns 63,477 shares of the company’s stock valued at $1,089,000 after acquiring an additional 42,569 shares during the period.
Insider Transactions at Lucid Group
In related news, Director Public Investment Fund acquired 85,712,679 shares of the company’s stock in a transaction dated Thursday, December 22nd. The stock was bought at an average cost of $10.68 per share, with a total value of $915,411,411.72. Following the acquisition, the director now owns 1,100,965,202 shares of the company’s stock, valued at approximately $11,758,308,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 62.50% of the stock is currently owned by insiders.
Lucid Group Price Performance
Analyst Ratings Changes
A number of equities research analysts recently issued reports on LCID shares. Morgan Stanley lowered their price objective on Lucid Group from $10.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 25th. Evercore ISI started coverage on Lucid Group in a research note on Tuesday, November 29th. They issued an “in-line” rating and a $12.00 price objective on the stock. BNP Paribas cut Lucid Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 23rd. Citigroup lowered their price objective on Lucid Group from $12.00 to $11.50 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. Finally, R. F. Lafferty decreased their price target on Lucid Group from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lucid Group has an average rating of “Hold” and a consensus price target of $15.50.
Lucid Group Profile
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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