Moors & Cabot Inc. bought a new position in shares of Lucid Group, Inc. (NASDAQ:LCID – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,846 shares of the company’s stock, valued at approximately $260,000.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Lucid Group by 36.7% in the 1st quarter. Vanguard Group Inc. now owns 38,737,522 shares of the company’s stock worth $983,933,000 after purchasing an additional 10,400,923 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Lucid Group by 382.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,940,114 shares of the company’s stock valued at $61,061,000 after buying an additional 7,087,545 shares during the period. First Trust Advisors LP increased its holdings in Lucid Group by 888.1% in the 3rd quarter. First Trust Advisors LP now owns 6,821,535 shares of the company’s stock valued at $95,297,000 after buying an additional 6,131,163 shares during the period. State Street Corp increased its holdings in Lucid Group by 80.9% in the 2nd quarter. State Street Corp now owns 10,822,778 shares of the company’s stock valued at $185,719,000 after buying an additional 4,841,301 shares during the period. Finally, BlackRock Inc. increased its holdings in Lucid Group by 23.7% in the 1st quarter. BlackRock Inc. now owns 15,623,711 shares of the company’s stock valued at $396,842,000 after buying an additional 2,990,659 shares during the period.
Lucid Group Trading Down 1.5 %
Lucid Group stock opened at $7.18 on Monday. The company has a current ratio of 4.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.57. Lucid Group, Inc. has a 12-month low of $6.09 and a 12-month high of $21.78. The firm’s fifty day moving average is $7.62 and its 200 day moving average is $8.74.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Lucid Group from $12.00 to $11.50 and set a “buy” rating on the stock in a report on Thursday, March 2nd. BNP Paribas lowered shares of Lucid Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 23rd. Cantor Fitzgerald reduced their target price on shares of Lucid Group from $13.00 to $10.00 in a report on Tuesday, May 9th. Morgan Stanley reduced their target price on shares of Lucid Group from $10.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, January 25th. Finally, Bank of America reduced their target price on shares of Lucid Group from $10.00 to $8.00 in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.79.
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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