Fmr LLC Boosts Position in Lucid Group, Inc. (NASDAQ:LCID)

Fmr LLC grew its holdings in shares of Lucid Group, Inc. (NASDAQ:LCID) by 47.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,987 shares of the company’s stock after buying an additional 48,304 shares during the quarter. Fmr LLC’s holdings in Lucid Group were worth $529,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Frank Rimerman Advisors LLC grew its holdings in Lucid Group by 925.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 10,250 shares of the company’s stock valued at $27,000 after purchasing an additional 9,250 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lucid Group during the second quarter valued at about $26,000. Crumly & Associates Inc. purchased a new stake in shares of Lucid Group during the third quarter worth about $38,000. Latko Wealth Management Ltd. acquired a new position in shares of Lucid Group in the third quarter worth about $39,000. Finally, Clean Yield Group purchased a new position in Lucid Group in the third quarter valued at about $43,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LCID shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research report on Tuesday, October 8th. Cfra set a $2.00 price objective on shares of Lucid Group in a research note on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. Royal Bank of Canada cut their target price on shares of Lucid Group from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 19th. Finally, R. F. Lafferty raised shares of Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Lucid Group currently has an average rating of “Hold” and a consensus target price of $3.16.

Insider Buying and Selling at Lucid Group

In related news, Director Public Investment Fund acquired 374,717,927 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the purchase, the director now directly owns 8,041,393 shares in the company, valued at $20,827,207.87. This trade represents a -102.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 61.26% of the stock is owned by company insiders.

Lucid Group Stock Performance

Shares of LCID opened at $2.53 on Thursday. The firm has a fifty day moving average of $2.41 and a 200-day moving average of $2.99. The company has a market cap of $7.62 billion, a price-to-earnings ratio of -1.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. Lucid Group, Inc. has a 1 year low of $1.93 and a 1 year high of $4.84.

About Lucid Group

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.